AuMEGA Metals Ltd Announces Closing of Financing
Exciting News for AuMEGA Metals Ltd
Edmonton, Alberta–(Newsfile Corp. – December 10, 2024) – AuMEGA Metals Ltd (ASX: AAM) (TSXV: AUM) (OTCQB: AUMMF) (formerly Matador Mining Ltd) (“AuMEGA” or “the Company”) is pleased to announce the closing of the second and final closing of its previously announced financing (the “Tranche Two Placement”) following shareholder approval at the Company’s Special Shareholder Meeting on 4 December 2024. Under the Tranche Two Placement, the Company issued an aggregate of 128,035,776 ordinary shares (“New Shares”) to institutional, professional and accredited investors for aggregate gross proceeds of C$7.3 million, consisting of: Hard Dollars: 65,236,111 New Shares at a price of C$0.050/A$0.054 per share; and Flow Through: Constituting as “flow-through shares” as defined in subsection 66(15) of the Income Tax Act (Canada) as follows: Traditional Flow Through: 34,299,666 New Shares at a price of C$0.06/A$0.065 per share Premium Flow Through: 28,500,000 New Shares at a premium flow through price of at a price of C$0.06825/A$0.07408 per share The Tranche Two Placement was in addition to the previously announced first tranche closing (the “Tranche One Placement”, together with the Tranche Two Placement, the “Offering”), whereby the Company issued 131,152,889 ordinary shares to institutional, professional and accredited investors for aggregate gross proceeds of C$8.77 million.
What Does This Mean for AuMEGA Metals Ltd?
This closing of financing represents a significant milestone for AuMEGA Metals Ltd. The Company is now well positioned to further develop its projects and advance its operations. With the support of institutional, professional and accredited investors, AuMEGA Metals Ltd can continue to grow and achieve its strategic goals.
Impact on Individuals
As an individual investor, this announcement may have various effects on you depending on your current holdings or interest in AuMEGA Metals Ltd. It could potentially represent a positive development if you are already invested in the company or if you are considering investing in the future.
Global Implications
The closing of financing by AuMEGA Metals Ltd could have broader implications on the market and the mining industry as a whole. It signifies confidence in the company’s potential and its ability to attract investment, which may be viewed favorably by the industry and investors worldwide.
Conclusion
In conclusion, the closing of financing by AuMEGA Metals Ltd is a significant achievement that sets the company on a path for continued growth and success. With the support of investors, AuMEGA Metals Ltd is well positioned to capitalize on opportunities and drive value for its stakeholders.
