Alma Metals Completes 97 Million Share Placement Amid Compliance Assurance
Alma Metals has completed a $388,000 placement of nearly 97 million shares following its recent rights issue, issuing a cleansing notice to confirm regulatory compliance.
- Placement of 97 million shares at $0.004 each completed
- Funds raised total approximately $388,000
- Shares issued without full disclosure under Corporations Act Part 6D.2
- Cleansing notice confirms compliance with disclosure obligations
- No material information withheld from investors
Completion of Share Placement
Alma Metals Limited (ASX, ALM) has announced the completion of a significant share placement, issuing 97,009,898 ordinary shares at a price of $0.004 per share. This placement follows the company’s recent rights issue, which was initially announced on 27 June 2025, and raises approximately $388,000 in fresh capital for the mining company.
Regulatory Compliance and Cleansing Notice
Importantly, the shares were issued without disclosure to investors under Part 6D.2 of the Corporations Act 2001, a common practice in placements of this nature. To address this, Alma Metals has issued a cleansing notice under section 708A(5)(e) of the Act. This notice confirms that the company has complied with all relevant provisions of the Corporations Act and the ASX Listing Rules, and that no material information has been withheld that would affect investors’ ability to make an informed decision.
Implications for Investors and the Company
For shareholders and potential investors, this placement represents a dilution of existing equity but also an injection of capital that could support Alma Metals’ ongoing operations or exploration activities in the base metals sector. While the company has not detailed the specific use of proceeds, the completion of this placement signals management’s intent to strengthen the balance sheet following the rights issue.
Looking Ahead
Managing Director Frazer Tabeart authorised the release of this announcement, underscoring the company’s commitment to transparency and regulatory compliance. Market watchers will be keen to observe how Alma Metals deploys the newly raised funds and whether this capital raising translates into operational progress or exploration success in the near term.
Bottom Line?
Alma Metals’ latest capital raise clears regulatory hurdles, setting the stage for potential growth but raising questions on strategic deployment.
Questions in the middle?
- How will Alma Metals allocate the proceeds from this placement?
- What impact will the share dilution have on existing shareholders’ value?
- Are there upcoming operational milestones that this capital raise aims to support?
