Charger Metals entitlement offer details

Charger Metals NL (ASX: CHR) is set to conduct a pro rata non-renounceable entitlement offer. This initiative aims to raise up to $774,203 initially by issuing approximately 38,710,125 partly paid shares at $0.02 each. The offer is fully underwritten by Barclay Wells Ltd and could potentially raise an additional $3,871,013 when fully paid.

Charger Metals strategic fundraising plans

Charger Metals NL is offering a pro rata entitlement to eligible shareholders in Australia and New Zealand. The offer provides one partly paid share for every two fully paid ordinary shares held. Initially, it aims to raise $774,203 with the opportunity to bring in a total of $3,871,013 once shares are fully paid. This capital will support geological exploration, potential acquisitions, and operational needs. The prospectus detailing the offer is available to eligible shareholders, with key dates outlined for the offer period. Underwriting by Barclay Wells Ltd ensures a structured capital raise, with fees and incentives set to align interests. Charger Metals is positioning for growth and exploration through this strategic move.

Executive insights on entitlement offer

Funds raised will be used for geological work, exploration, studies, potential acquisitions, general working capital, and expenses related to the entitlement offer.