Resolution Minerals (ASX:RML) received commitments to raise a total of AU$1.7 million to advance its recently acquired Antimony projects, according to a Thursday Australian bourse filing.
A total of around 154.5 million shares will be issued at AU$0.011 per share under the placement, as approved by its shareholders.
The company will receive AU$150,000 of the amount at the end of the month.
Participants will also be issued one option for every two shares issued under the placement, for no additional consideration. The options will have an exercise price of AU$0.018 per share and will expire on July 31, 2028.
Resolution Minerals' shares fell 14% in recent trading on Thursday.
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