- Red Mountain Mining (RMX) has sucesfully raised $800,000 via a placement to professional and sophisticated investors
- The company first announced its plans to tap investors for more cash earlier this week when it locked up its shares in a trading halt
- Since then RMX has recieved firm commitments to raise additional capital, via the issue of over 114 million shares worth 0.7 cents each
- Additionally, the company wants to issue one attaching option for every two shares issued under the placement
- The option would have an exercise price of 0.8 cents and an expiry date of July 14, 2021
- Red Mountain said almost all of the $800,000 raised will spent on work program across Mt Maitland, Koonenberry and Mukabe-Kasari projects
