Ionic Rare Earths Secures AU$3.0 million in Convertible Note Funding to Advance Global Projects

Ionic Rare Earths Limited (ASX: IXR) has received firm commitments to raise AU$3.0 million before costs through the issue of convertible notes to sophisticated and professional investors, aimed at supporting project developments across the UK, USA, Brazil, and the flagship Makuutu Rare Earths Project in Uganda. The notes are non-redeemable. Instead of interest payments, the Company will issue 166.7 million options exercisable at AU$0.011, expiring 15 December 2027. Ignite Equity Pty Ltd acted as lead manager and will receive a 6% fee and 15 million options. The placement is subject to shareholder approval at a planned EGM in July 2025.

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