Northern Minerals Updates on $22 Million Private Placement & Ban Of Baogang Placement Transaction

April 20, 2020 12:42 PM AEST
Team Kalkine

Northern Minerals Limited (ASX:NTU) announced that it has signed subscription contracts with multiple sophisticated investors to raise $22 million (before costs) under a private placement. The placement would take place in four tranches:

Other than this, NTU updated that its earlier announcements related to the $20 million Baogang Placement, that was originally announced on 15 August 2019, has been prohibited by the treasurer. Thus, issue of shares to Baogang would not proceed.

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