AcroMeta Group raises $1m via new share subscription at 10% discount

The subscription is scheduled to be completed by 31 May.

AcroMeta Group Limited has entered into a subscription agreement with a subscriber on 30 January to raise $1m by issuing new ordinary shares, according to an announcement dated 2 February.

Under the agreement, the subscriber will subscribe for shares at an issue price of $0.06 per share, or a 10% discount to the average weighted price on the last trading day before completion, whichever is higher.

The subscription is expected to be completed by 31 May.

The company added that the share subscription is separate from, and not conditional upon, any strategic partnership arrangements.

Separately, AcroMeta announced that its wholly owned subsidiary, AcroMeta Minerals Pte. Ltd., has formalised a strategic partnership with Indonesia-based PT Esa Jaya Labdagati relating to nickel activities.

The partnership agreement was signed on 30 January, following an earlier announcement made on 22 January.

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