News: Syndicated announce fully underwritten entitlements issue

Syndicated Metals Limited (ASX: SMD) (“Company”) is pleased to announce that it is offering existing eligible shareholders the opportunity to participate in a non-renounceable entitlement offer on the basis of four (4) fully-paid ordinary shares (“Shares”) for every eleven (11) Shares held on the record date at an issue price of 2.0 cents per Share (“Entitlements Issue”) to raise up to $1,995,968 before costs. The funds raised will primarily be used to underpin a major new phase of exploration across the Company’s North Queensland copper-gold projects including exploration activity at Syndicated’s Barbara Copper-Gold Joint Venture Project. This multi-pronged exploration initiative is designed to expand the Company’s JORC resource inventory, extend the life of the Barbara Copper-Gold Joint Assets, Experience, Growth enture Project and identify new growth opportunities with the potential to enhance the Company’s North Queensland copper business.