Avira Resources (ASX:AVW) secured commitments from institutional, professional, and sophisticated investors for a capital raising to raise around AU$506,000, according to a Friday Australian bourse filing.
Its wholly-owned subsidiary Mount Macpherson signed a deal to acquire a Western Australian tenement in exchange for AU$75,000 worth of Avira shares. The acquisition is expected to expand the Tangadee copper-zinc and copper-nickel sulfide projects.
It will issue 72.3 million fully paid ordinary shares at an issue price of AU$0.007 per share. One listed option exercisable at AU$0.015 on or before June 30, 2027, will also be issued for each share issued, subject to shareholder approval.
CPS Capital Group was the lead manager for the capital raise.
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