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Alliance Nickel Limited (ASX:AXN)

ALERT: Price-sensitive ASX Announcement for AXN
Current share price for AXN : $0.025 -0.014 (-35.90%)+
Announcement
Release
5 May 2026 8:16AM
Price at Release
$0.039
Full Release
download
Summary
Alliance Nickel Limited announced the closure of its Entitlement Offer on 28 April 2026, raising approximately $2.25 million from the issue of 64,401,834 shares at $0.035 each. Director Jamie Sullivan participated by subscribing to 4,957,872 new shares as part of a partial underwriting agreement. Total funds raised, including the shortfall, reached $2.4 million, but a shortfall of 49,900,221 shares remains, valued at $1.74 million. The company is advancing its NiWest nickel cobalt project, one of Australia's highest-grade undeveloped nickel laterite resources.
Key Points
  • Alliance Nickel Limited's Entitlement Offer closed on 28 April 2026.
  • The offer raised approximately $2,254,064 from 64,401,834 shares at an issue price of $0.035.
  • Director Jamie Sullivan partially underwrote the offer, subscribing to 4,957,872 new shares.
  • Total funds raised, including the shortfall, amounted to $2,403,442.
  • A remaining shortfall of 49,900,221 shares worth $1,746,508 is yet to be placed.
  • Alliance Nickel Limited is focused on its NiWest nickel cobalt project, a high-grade undeveloped nickel laterite resource in Australia.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.