- Key Points to note:
- One (1) for ten (10) Renounceable Rights Issue to raise up to approximately $3.2 million
- Funds raised under the Offer will be used for working capital purposes whilst the Company completes the strategic partner and associated fundraising process required to complete the EPCC and achieve Financial Investment Decision.
- Attractively priced at 2.5 cents per share – a discount of 19% to the last price of 3.1 cents and 26% to the 30 day VWAP
- With every one (1) New Share, shareholders receive one (1) attaching New Option
- Options will have an Exercise Price of 7 cents and term of two years – application will be made for them to be quoted on ASX
- Shareholders can trade their rights or apply for additional shares and attaching options
- Rights to start trading from 1 November 2023
- Directors intend to participate
