Orion Minerals raises A$3.26m through share placement

Orion Minerals Limited has issued 5.45 million shares at A$0.011 per share, raising A$0.06 million as part of a larger placement to sophisticated and professional investors. The company has secured firm commitments for the remaining A$3.2 million.

The company also issued 186.4 million shares at A$0.011 per share to Ratel Growth Pty Ltd, fully repaying a A$2.0 million convertible loan facility including interest. Total share issuance from the placement and loan conversions will amount to approximately 522 million shares.