The company recently extended the closing date to allow eligible shareholders additional time to participate in the SPP to raise up to $2 million as part of a $3 million capital raising effort.
This decision was made due to the impact COVID-19 had on the time taken for the prospectus and application forms to reach all shareholders.
Anson is also finalising the $1 million top-up placement to professional and sophisticated investors at the same issue price as the SPP to raise a further $1 million.
Funds to advance Paradox project
Funds raised will be used to advance the pre-feasibility study, environmental studies, permitting, other exploration at the Paradox Brine Project in the US state of Utah and for general working capital.
The SPP is partially underwritten to $1 million by Pendragon Capital Limited.
New shares for issue on July 21
Anson provided all eligible shareholders with the opportunity to participate in the SPP and has finalised the SPP in accordance with ASX Listing Rules.
As set out in the company’s prospectus released to ASX on June 16, the new shares will be issued at a 20% discount to the volume-weighted average market price of Anson shares, calculated over the last five days on which sales in the shares are recorded before the issue date.
The issue of the SPP shares is scheduled for July 21.