Echo Resources Limited (Company), ASX: EAR, is pleased to advise that its Entitlement Issue offer made pursuant to an Offer Document dated 11 December 2018 closed on 16 January 2019 heavily oversubscribed. Under the Entitlement Issue, the Company offered 1 new share in the capital of the Company (Share) for every 20 Shares held by shareholders as at the record date. The Offer Document allowed for up to 24,432,321 new Shares to be issued to raise $2,565,394. The Company received subscriptions and oversubscriptions totalling 70,298,907 new Shares for a total subscription amount of $7,381,385.
Wow >>> I hope these keen buyers now put the spare 4.8mill AUD into buying EAR on market would certainly drive the SP past 20c
EAR Price at posting:
15.5¢ Sentiment: Buy Disclosure: Held
