The placement agreement was entered into with W Capital Markets on April 13.
Yongnam Holdings is looking to raise $7.94 million through the proposed placement of 104.52 million new ordinary shares in the capital of the company, at an issue price of 7.6 cents per share.
The issue price represents a discount of approximately 9.85% to the volume weighted average price (VWAP) for trades done on April 12.
