Labyrinth Resources Limited (ASX:LRL) Entitlement Offer

Labyrinth Resources Limited (ASX:LRL) is conducting a non-renounceable entitlement offer to raise up to $2,003,801 at an issue price of $0.003 per new share. The offer is on the basis of 1 new share for every 1.9813 shares held at the record date. The funds raised will be utilized for exploration at the Comet Vale and Vivien gold projects in WA, tenement and holdings costs at the Labyrinth Gold Project in Quebec, Canada, and for corporate costs and general working capital. The offer closes at 5.00pm (AWST) on 10 October 2024, with the company reserving the right to extend the closing date.

Executive Commentary on Entitlement Offer

The entitlement offer presents an opportunity for eligible shareholders to participate in the company's growth and development initiatives. It allows us to secure the necessary funding for exploration activities at our gold projects in Western Australia and Quebec, Canada. We encourage shareholders to carefully review the offer booklet and consider the potential benefits and risks associated with participating in the entitlement offer.

Summary of Entitlement Offer and Outlook

Labyrinth Resources Limited (ASX:LRL) has initiated a non-renounceable entitlement offer to raise funds for exploration activities at its gold projects in Western Australia and Quebec, Canada. The offer, priced at $0.003 per new share, aims to raise up to $2,003,801. The company plans to utilize the raised funds for exploration at the Comet Vale and Vivien gold projects in WA, tenement and holdings costs at the Labyrinth Gold Project in Quebec, Canada, and for corporate costs and general working capital. Shareholders are encouraged to carefully consider the offer booklet, seek professional advice if needed, and assess the potential risks and benefits before deciding to participate. The company's proactive approach to securing funding for exploration reflects its commitment to advancing its projects and creating value for shareholders.