Ionic to raise $3m for working capital
ASX-listed Ionic Rare Earths (IonicRE) has received firm commitments to raise $3-million before costs from sophisticated and professional investors through the issue of convertible notes. The funds raised will be used for working capital, including to progress the development of projects in the UK, the US and Brazil, as well as its Makuutu mine, in Uganda. The capital raising is subject to shareholder approval, which the company intends to seek at an extraordinary general meeting in July.
ASX-listed Ionic Rare Earths (IonicRE) has received firm commitments to raise $3-million before costs from sophisticated and professional investors through the issue of convertible notes. The funds raised will be used for working capital, including to progress the development of projects in the UK, the US and Brazil, as well as its Makuutu mine, in Uganda. The capital raising is subject to shareholder approval, which the company intends to seek at an extraordinary general meeting in July.
