$0.021
IONIC TECHNOLOGIES RAMPING UP HEAVY RARE EARTH PRODUCTION TO MEET SUPPLY REQUESTS FROM MAJORS
$0.017
RENOUNCEABLE RIGHTS ISSUE AND PLACEMENT TO RAISE UP TO $7 MILLION
- IonicRE has launched a 1 for 15 Renounceable Rights Issue to raise up to $6 million;
- Attractively priced at
1.6 cents per share, reflecting a 6% discount to the last close price and the 30-day VWAP, in conjunction with, for every 1 New Share subscribed, shareholders receive 1 New Option, with an exercise price of 2.5 cents expiring 30 Sept 2028;
- Shareholders can trade their rights and apply for additional shares and options;
- Rights to start trading from 18 Sept 2025;
- IonicRE has also secured commitments of $1.125 million from institutional investors and executives in a placement on the same terms as the Rights Issue;
- All directors intend to participate in the Rights Issue, and executives have committed to the placement, with combined subscriptions of ~$635,000; and
- Funds raised from the Rights Issue and Placement to be used primarily to progress Belfast magnet recycling project, the Brazilian rare earth re>ning and recycling Viridion joint venture, and expansion of activities into the US.