Ora Banda Concludes Retail Component of Entitlement Offer, New Shares expected to commence trading on 3 August 2020

  • Jul 30, 2020 AEST
  • Team Kalkine

Ora Banda Mining Limited (ASX:OBM) has successfully completed the retail entitlement offer, as part of its A$55 million capital raising.

The offer closed on 24 July 2020, subsequent to which OBM now looks forward to issuing ~14.5 million new shares to raise around A$3.3 million at the offer price of A$0.23 per new share.

Additionally, the second tranche of the Placement remains subject to shareholder approval at a general meeting of OBM’s shareholders and comprises of around 96.1 million new shares to be issued to Hawke’s Point and a Director to raise around A$22.1 million.

The meeting is expected to be held in early September 2020.


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