OD6 Metals raises $6.9M for fluorspar

• OD6 Metals secured $6.9 million in commitments to advance its critical minerals strategy in the United States.
• The single-tranche placement was priced at $0.095 per share.
• The company plans to rebrand to Adaven to reflect its focus on American mineral assets.

OD6 Metals (ASX:OD6) has secured firm commitments to raise approximately $6.9 million before costs through a single-tranche placement.

The transaction represents a capital boost to fund the company's critical minerals exploration pipeline across its overseas project portfolio.

"The level of demand reflects growing investor interest in Quinn and in the strategic importance of establishing a secure domestic fluorspar supply in the United States," said OD6 Metals Managing Director Brett Hazelden.

Proceeds will support upcoming project catalysts, including permitting milestones, maiden drilling, metallurgical results, and bulk sampling at the Quinn Project.

The company also announced a proposed rebrand to Adaven, subject to shareholder approval.

Following the announcement, the OD6 Metals share price was unchanged at $0.11.

The critical minerals explorer holds a portfolio of project targets, including the Quinn fluorspar asset in the United States and Australian holdings at Splinter Rock and Gulf Creek.