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  • Aeon Metals (AML) has entered into a trading halt ahead of a capital raise
  • Currently, it is not known how much the company is aiming to raise or where the funds will be spent
  • Company shares will be paused until Monday, July 19, or when more details about the raise are released to the market
  • On the market, Aeon last traded at 7.3 cents per share on July 14

Aeon Metals (AML) has entered into a trading halt ahead of a capital raise.

It is currently unknown how much the company is aiming to raise or where the funds will be spent.

Under the halt, company shares will be paused until Monday, July 19, or when more details about the raise are released to the market, whichever one comes first.

Aeon Metals is an Australian-based mineral exploration company and has assets in Mt Isa and the Rawbelle district in Queensland.

Today, the company also announced it has extended the maturity date on its loan with OL Master, who is also a major shareholder.

For this, the company has agreed to pay OL Master an additional cash fee equivalent to 2 per cent of the total facility.

All other key terms of the OCP facility remain unchanged.

Last month, the company also appointed Fred Hess as its new Managing Director and CEO, following the resignation of Hamish Collins.

Notably, Dr Hess has been acting in the role of Interim Managing Director and CEO since March 2021.

“The recent changes to the strategic direction of the Walford Creek Project are indeed transformational – both technically and economically,” Dr Hess said in June.

“The decision to continue my hands-on involvement in the current role reflects my excitement with the challenge, my growing confidence in success, and ultimately my determination to guide the Walford Creek Project towards a development reality.”

On the market, Aeon last traded at 7.3 cents per share on July 14.

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