Clara Resources Australia Limited (ASX:C7A) Rights Issue Announcement

Clara Resources Australia Limited (ASX:C7A) has announced a non-renounceable rights issue to eligible shareholders, offering 2 new shares for every 3 shares held at an issue price of $0.01 per new share. The company aims to raise approximately $1,667,594 before costs. The lead manager of the offer is Cerberus Investments Pty Ltd, and the offer is not underwritten. The company has set key dates for investors and provided important information regarding the offer, including details about foreign shareholders and offer restrictions in various countries. The prospectus also outlines the investment summary, risk factors, and terms for accepting entitlement to new shares.

Executive Commentary on Rights Issue

The company is pleased to offer this non-renounceable rights issue to eligible shareholders. This initiative is aimed at raising funds for the repayment of loans, offer costs, and working capital, particularly for the development of the Ashford Coking Coal Project. We believe this rights issue will provide an opportunity for our shareholders to participate in the company's growth and development. The prospectus contains comprehensive details about the offer, including key dates, terms, and conditions for shareholders.

Summary of Clara Resources Australia's Rights Issue Announcement

Clara Resources Australia Limited (ASX:C7A) has announced a non-renounceable rights issue to raise approximately $1,667,594 before costs. The company aims to utilize the funds for the repayment of loans, offer costs, and working capital, particularly for the development of the Ashford Coking Coal Project. The offer is not for distribution in the United States of America or to U.S. persons except by the company to shareholders who are 'institutional accredited investors.' It is available in Australia, New Zealand, and other eligible countries, with specific restrictions and regulations outlined for each country. The company has provided comprehensive information about the offer, including key dates, terms, and conditions for shareholders. Shareholders have been informed about the potential shortfall and the dilution of their interests if they do not accept their entitlements in full. The offer is subject to ASX approval for official quotation, and the company has provided details about the expected date of commencement of trading of new shares on ASX.