Cavalier Resources Limited ACN 635 842 143 announces pro rata non-renounceable entitlement offer

Cavalier Resources Limited (ASX:CVR) has announced a pro rata non-renounceable entitlement offer to its eligible shareholders. The offer opens on 30 September 2024 and closes at 2:00pm WST (5:00pm AEDT) on 9 October 2024. Eligible shareholders will be entitled to one (1) new share for every three (3) existing shares held on the record date at an issue price of $0.12 per new share, aiming to raise approximately $1,735,267 before costs.

Summary of the Offer and Outlook

Cavalier Resources Limited has announced a pro rata non-renounceable entitlement offer to its eligible shareholders, aiming to raise approximately $1,735,267 before costs. The offer opens on 30 September 2024 and closes at 2:00pm WST (5:00pm AEDT) on 9 October 2024. Shareholders are entitled to one (1) new share for every three (3) existing shares held on the record date at an issue price of $0.12 per new share. The company has highlighted that the new shares offered should be considered speculative. The company has also provided details on the lead manager, use of funds, indicative timetable, entitlements and acceptance, capital structure, pro-forma balance sheet, dilution, directors' interest and participation, effect on control and substantial holders, market price of shares, ASX listing, CHESS participation, risk factors, defined terms, and action required by shareholders. Shareholders are advised to carefully consider the risks involved and consult their professional advisors before deciding whether to apply for new shares.