Empire Resources Limited (ASX: $ERL) has announced a pro-rata non-renounceable rights offer to raise up to approximately $741,957 by issuing approximately 370,978,306 New Shares at an issue price of 0.2 cents per New Share. The funds raised will be utilized for exploration on the Company's Projects, additional working capital, and to meet Offer expenses. The Offer, which is not underwritten, will be made by a prospectus with a minimum subscription of $525,000. The prospectus is expected to be available to Eligible Shareholders on Thursday, 11 April 2024, and will be accessible on the ASX and Company's website on the same day.
The directors of Empire Resources Limited are pleased to announce the pro-rata non-renounceable rights offer, which will provide the Company with the necessary funds for exploration and additional working capital. We believe that this offer will enable us to further develop our highly prospective projects and create sustainable value for our shareholders. Shareholders are encouraged to carefully review the prospectus before making any decisions regarding the Offer. We are committed to transparent communication and are available to address any queries shareholders may have regarding the Offer.
Empire Resources Limited (ASX: $ERL) has unveiled a pro-rata non-renounceable rights offer to raise funds for exploration, additional working capital, and Offer expenses. The Company aims to raise approximately $741,957 through the issuance of approximately 370,978,306 New Shares at an issue price of 0.2 cents per New Share. The funds will be utilized for exploration on the Company's Projects, as well as to meet Offer expenses. The Offer, which is not underwritten, is expected to have a minimum subscription of $525,000. The prospectus will be available to Eligible Shareholders on Thursday, 11 April 2024, and will be accessible on the ASX and Company's website on the same day. Empire Resources Limited remains dedicated to creating sustainable and profitable mineral business, and seeks to extract value from direct exploration of its existing projects while identifying value accretive investment opportunities that align with the Company's development objectives.