Evolution Energy Minerals Limited (AU:EV1) has released an update.
Evolution Energy Minerals Limited is set to bolster its finances with a two-tranche placement aimed at raising A$4 million, backed by significant investment from ARCH Sustainable Resources Fund LP and new substantial shareholder Deutsche Balaton AG. The company will issue 100 million new shares at a slight discount, with funds intended to support the assessment of financing options for the Chilalo project. This move, pending shareholder approval, has prompted the company to seek reinstatement of its shares for trading on the Australian Securities Exchange.
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