Minbos Resources (ASX:MNB) - CEO, Lindsay Reed (centre)
CEO, Lindsay Reed (centre)
Source: Lindsay Reed/Twitter
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  • Minbos Resources (MNB) enters a trading halt ahead of a capital raise
  • The company has not disclosed how much it will be raising, however, it did say an upcoming “significant” investment and a strategic cooperation agreement is in the works
  • Under the halt, MNB shares will be paused until Tuesday, July 12, or when further information about the raise is released to the market
  • On the market, MNB shares last traded at 13.5 cents on July 5

Minbos Resources (MNB) has entered into a trading halt ahead of a capital raise.

It is not known how much the company is aiming to raise but it did say the announcement will come with a “significant” cornerstone investment and a strategic cooperation agreement.

Under the halt, MNB shares will be paused until Tuesday, July 12, or when further information about the raise is released to the market.

Minbos is a phosphate fertiliser and nutrient company that is focused on developing a nutrient supply and distribution business that stimulates agricultural production and promotes food security in Angola and the broader Congo Basin.

Recently, the company signed a memorandum of understanding with global green ammonia production leader Stamicarbon to conduct a technical study for the Capanda Green Ammonia Plant in Angola.

The technical study will assess a mixed production profile of 300,000 million tonnes per annum of green ammonium nitrate products.

On the market, MNB shares last traded at 13.5 cents on July 5.

MNB by the numbers
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