Bastion Raises $475,000 at $0.001 per Share with Options to 2030

Strong Backing for Capital Raise

Bastion Minerals Ltd (ASX – BMO) has announced a successful capital raising effort, securing commitments to raise $475,000 through a share placement targeting sophisticated and professional investors. Notably, the placement attracted significant participation from existing shareholders and company directors, underscoring confidence in Bastion’s strategic direction following its May 2025 relaunch.

The placement involves issuing 475 million new ordinary shares at a nominal price of $0.001 each, accompanied by attaching options exercisable at $0.004, with an expiry date set for September 2030. This structure offers investors potential upside while providing the company with immediate working capital.

Purpose of Funds and Strategic Focus

Proceeds from the placement will primarily support Bastion’s pursuit of a potential project acquisition, alongside funding ongoing due diligence, exploration planning, and tenement maintenance. These activities are critical as the company seeks to build value through targeted growth opportunities in the mineral exploration sector.

Chairman Gavin Rutherford expressed satisfaction with the outcome, highlighting the strong endorsement from shareholders and directors alike. He emphasized that the capital raise aligns with the company’s renewed strategy to generate capital through placements and execute on its acquisition pipeline.

Next Steps and Shareholder Approval

The placement is structured in two tranches. While the first tranche has been completed under existing ASX listing rule capacities, the second tranche; comprising 330 million shares and associated options; requires shareholder approval at an upcoming general meeting. Directors, including Rutherford, Keith Ross, Raymond Muskett, and John Ribbons, have committed to participate in this tranche, signaling their confidence in Bastion’s future.

The company plans to convene the shareholder meeting promptly to secure the necessary approvals and lift the current trading halt. Notably, the placement was conducted without a lead manager or broker, reflecting direct engagement with its investor base.

As Bastion Minerals moves forward, the market will be watching closely to see how effectively the company leverages this capital injection to advance its acquisition ambitions and exploration programs.