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LONDON/SYDNEY - New Frontier Minerals Ltd (LSE and ASX:NFM) has completed a share placement raising gross proceeds of $1.59 million, according to a press release issued Monday.
The mining company issued 142,204,543 fully paid ordinary shares at a subscription price of $0.011 per share to professional and sophisticated investors. The placement was initially announced on June 4, 2025.
Additionally, the company issued 3,000,000 fully paid ordinary shares at a deemed price of $0.011 per share as payment for marketing and investor relation services.
The new shares were issued under the company’s placement capacity in accordance with ASX Listing Rule 7.1 and without disclosure to investors under section 708A(5) of the Corporations Act 2001.
Following the admission of the new shares, New Frontier Minerals’ total issued share capital will consist of 1,602,939,898 ordinary shares. This figure may be used by shareholders as the denominator for calculations to determine if they are required to notify their interest in the company under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.
The company has filed an Appendix 3G with the Australian Securities Exchange (ASX) in relation to the share issuance.
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