Metals Australia to Undertake Non-Renounceable RightsIssue to Accelerate & Expand Exploration at Lac Rainy
Highlights:
▪ 1 for 3 non-renounceable entitlement offer to raise approximately $1.6 million ▪ New Shares to be issued at $0.0018 per share, a discount to the last traded price of MetalsAustralia Ltd on the ASX ▪ Participants in the Rights Issue will also receive a free attaching option on a 1 for 1 basis,with each option exercisable at $0.0035 per share with an expiry date of 1 June 2022 ▪ Company will apply to the ASX for Quotation of the Rights Issue Options ▪ Participants in the Rights Issue will have the option to apply for additional Shortfall Sharesin addition to their entitlement under the Rights Issue ▪ Funds raised under the Rights Issue will be used to accelerate and expand the currentmaiden diamond drilling program at the Lac Rainy Graphite Project as well as for generalworking capital requirements
MLS Price at posting:
0.2¢ Sentiment: None Disclosure: Held
