Admiralty Resources NL (ASX:ADY) Entitlement Offer Overview

Admiralty Resources NL (ASX:ADY) is conducting a non-renounceable pro rata entitlement offer of New Shares at $0.007 per New Share to raise up to $7 million. The offer is made in accordance with section 708AA of the Corporations Act and is partially underwritten by Shi Yong. The Entitlement Offer closes at 5.00pm (AEDT) on 28 October 2024. The New Shares issued under the offer will rank equally with the existing shares on issue. The company intends to use the proceeds for working capital, drilling and exploration at the copper mine in Chile, and to increase investment in the Mariposa project. The offer booklet contains important information, including key dates, options available to shareholders, and the effect of the offer on the company's capital structure and director interests.

Executive Commentary on Entitlement Offer

The company is pleased to announce the non-renounceable entitlement offer, providing eligible shareholders with the opportunity to participate in the capital raising initiative. This offer aligns with our strategic objectives to strengthen our financial position, support ongoing operational activities, and advance key projects. We believe that the proceeds from the offer will contribute significantly to our working capital requirements and enable us to pursue our exploration and investment plans in Chile and the Mariposa project. We encourage shareholders to carefully review the offer booklet and consider the investment opportunity in line with their financial objectives and risk tolerance.

Entitlement Offer Summary and Outlook

Admiralty Resources NL (ASX:ADY) is conducting a non-renounceable entitlement offer to raise up to $7 million through the issuance of New Shares at $0.007 per share. The offer presents an opportunity for eligible shareholders to participate in the company's capital raising initiative, with the proceeds intended for working capital, drilling and exploration activities in Chile, and increased investment in the Mariposa project. Shareholders are advised to carefully consider the offer booklet, including the associated risks and potential impact on their investment. The company's strategic focus on operational activities and project advancement underscores its commitment to long-term growth and value creation for shareholders.