29Metals Completes Institutional Entitlement Offer to Support Portfolio Growth

29Metals Limited (ASX: 29M) has successfully completed the institutional component of its accelerated non-renounceable entitlement offer, raising approximately AU$ 119 million at an offer price of AU$ 0.40 per share. The Institutional Entitlement Offer was strongly supported by eligible existing institutional shareholders, with take-up of approximately 92 percent of the entitlements, excluding EMR Capital, and any shortfall was fully allocated to institutional investors. Proceeds from the equity raising are expected to support the Company’s strategic growth initiatives, including continued investment at Gossan Valley, advancement of a restart definitive feasibility study at Capricorn Copper, and exploration drilling across priority targets within the portfolio. Trading in 29Metals shares has resumed on the ASX, with the retail entitlement offer scheduled to open later this month.

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