Key Highlights

  • The placement raises A$700,000 through 560,000,000 shares at A$0.00125.
  • Tranche 1 is indicatively 332.5m shares to raise A$415,625.
  • Tranche 2 requires shareholder approval.
  • No lead manager, fees or options are involved.

Reedy Lagoon Corporation Limited (ASX:RLC) announced on 26 October 2026 a company-led placement to raise A$700,000 before costs through the issue of 560,000,000 new fully paid ordinary shares at A$0.00125 per share.

Tranche structure

Tranche 1 uses the company's existing 15% placement capacity under ASX Listing Rule 7.1 and is indicatively about 332,500,000 shares raising A$415,625, targeted for issue on Friday 30 October 2026. Tranche 2, indicatively 227,500,000 shares raising A$284,375, will be issued after shareholder approval at a forthcoming meeting.

Fees and options

No lead manager has been appointed. The company said no placement, advisory, brokerage, success, introduction or other fees or commissions are payable in any capacity, and no options will be issued as consideration.

Use of funds

Proceeds are to be applied to exploration and development of mineral projects and general working capital. The announcement was authorised by the Board.

Placement mechanics

The ASX Listing Rule 7.1 capacity allows companies to issue up to 15% of their issued capital without shareholder approval, and Tranche 1 uses only that capacity without relying on the additional 7.1A capacity. Tranche 1 settlement is targeted for 30 October 2026, subject to law, listing rules and settlement requirements, while Tranche 2 will be issued as soon as reasonably practicable after shareholder approval.

The announcement was authorised by the Board and signed by the CFO and Joint Company Secretary. It states clearly that this is a company-led placement with no broker involvement.

Why This Could Matter

At A$0.00125 per share, the 560 million new shares raise A$700,000, so the number of shares issued is large relative to the amount raised. The two-tranche structure means part of the raising depends on a shareholder vote, while the first tranche proceeds within existing limits.

The Bottom Line

Reedy Lagoon (ASX:RLC) set terms for a A$700,000 placement of 560 million shares in two tranches, with no fees and no options.