Charger Metals announces new capital raising initiative

Charger Metals NL (ASX:CHR) has unveiled a prospectus for a non-renounceable pro rata entitlement issue. This initiative seeks to raise approximately $774,203 by offering 38,710,125 Partly Paid Shares to current shareholders at $0.02 per share. The offer underscores the speculative nature of the investment, advising potential investors to assess their circumstances and consult advisors.

Charger Metals' strategic funding move

Charger Metals NL has initiated a non-renounceable pro rata entitlement offer, aiming to raise $774,203. Shareholders can purchase one Partly Paid Share for every two shares held at $0.02 each. The fully underwritten offer, managed by Barclay Wells Ltd and co-managed by Prenzler Group Pty Ltd, will fund exploration, acquisitions, and general expenses. Key projects include the Lake Johnston Lithium Project and Bynoe Lithium and Gold Project. The offer carries risks such as dilution and market volatility. Important dates include a Record Date of 28 October 2024 and Closing Date of 11 November 2024. The announcement highlights the speculative nature of the investment, urging investors to seek advice.

Executive insights on entitlement issue

The investment in these Partly Paid Shares is highly speculative and advises investors to consider their own circumstances and consult professional advisers before investing.