Australian copper and gold producer Aeris Resources (ASX:AIS) has announced plans to raise AUD$30 million.
The funding will comprise a AUD$13.9 million institutional placement along with a 1:4.73 pro-rata accelerated non-renounceable entitlement offer.
The proceeds will be used to increase financial flexibility and working capital.
Aeris' largest shareholder, Washington H. Soul Pattinson, has also shown support for the raise, potentially committing up to AUD$12.3 million.
The raise has been fully underwritten by Jefferies and Bell Potter Securities.