Red Mountain Mining Ltd (ASX: RMX), a resources company focused on the exploration and development of mineral projects, has announced a pro-rata non-renounceable entitlement issue to raise up to $193,499. The offer involves the issue of one RMXO option for every three shares held by eligible shareholders as of the record date, at an issue price of $0.001 per RMXO option. This entitlement issue is detailed in a prospectus lodged with the ASX on August 14, 2025.
The company stated that the purpose of the offer is to provide working capital for the operation of the company’s business, including operational and administrative costs. Eligible shareholders are those registered at the record date and residing in Australia or New Zealand. The offer is not being extended to shareholders outside these regions due to regulatory complexities and costs.
The timetable includes a record date of August 19, 2025, with the offer opening on August 22, 2025, and closing on September 2, 2025. The directors reserve the right to extend the closing date with prior notice to the ASX. Application for official quotation of the RMXO options will be made within 7 days of the prospectus date. The company is a disclosing entity and is subject to regular reporting and disclosure obligations.
The offer is non-renounceable, meaning shareholders cannot sell or transfer their entitlements. Shareholders can choose to take up all, part, or none of their entitlement, with any unclaimed options forming part of a shortfall offer. Investors are advised to read the prospectus in its entirety and seek professional advice before making any investment decisions.
