Macro Metals Limited (ASX:M4M), a company focused on the exploration and development of mineral resources, has announced an extension to the subscription deadline for the final tranche of its strategic placement agreement with Paramount Earthmoving Pty Ltd. This agreement, initially announced on December 2, 2024, involves a $4 million placement by Paramount in four tranches to bolster Macro’s mining services division.
The company’s March 2025 Quarterly Activities Report, released on April 30, 2024, detailed that Paramount had already completed subscriptions for the first three tranches of the strategic placement, resulting in total proceeds of $3,019,256 for Macro Metals. The initial agreement stipulated that Macro could require Paramount to subscribe for the fourth tranche based on its working capital needs, with a deadline of June 30, 2025.
Macro Metals has now advised that its working capital requirements did not necessitate the subscription of the fourth tranche before the original deadline. Consequently, Macro Metals and Paramount have mutually agreed to extend the timeframe for Paramount to subscribe for the final tranche. The new deadline for the subscription of the fourth tranche is now set for no later than September 30, 2025. The announcement was authorised for release by the Board of Directors.
