Heavy Minerals (ASX:HVY) raised AU$100,000 via its at-the-market subscription agreement with Acuity Capital announced last Aug. 8, 2024, according to a March 21 filing with the Australian bourse.
In line with this, the company set off 385,000 collateral shares previously issued to Acuity Capital under the agreement at a deemed price of AU$0.26 per share.
This reduces the 3.3 million Heavy Minerals collateral shares that Acuity Capital is required to return to the company upon termination or maturity of the subscription agreement, per the filing.
Proceeds will be used for general working capital.
Heavy Minerals' shares were up nearly 2% in recent trade.
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