Rimfire Pacific Mining (ASX:RIM) confirmed that 199 million ordinary shares as tranche 1 placement were issued following the receipt of cleared funds of around AU$3 million, according to a Thursday Australian bourse filing.
The company will issue a further 34.3 million ordinary shares as tranche 2 placement on receipt of an additional AU$515,000, subject to shareholder approval.
The company's shares fell almost 8% in recent Thursday trade.
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