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78.00
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2,163.90
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46.11
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Iron Ore
109.15
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Hang Seng
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39,023.71
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109.15
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Estrella Resources (ASX:$ESR) offers 325.3 million new listed options

Overview of Estrella Resources Limited and the options prospectus


Estrella Resources Limited (ASX:$ESR) has announced the release of a prospectus for the issuance of new listed options. The company is offering up to 275,000,000 Placement Options to Placement Participants, 50,000,000 Lead Manager Options to the Lead Manager, and 300,000 Placement Options to Director Mr Leslie Pereira. The Offers are not underwritten and are set to close at 5:00pm WST on 11 December 2023. The purpose of the prospectus is to issue the new listed options, obtain quotation, facilitate secondary trading, and enable on-selling of the options and any shares issued upon exercise of the options. The company intends to use the proceeds from the placement to conduct initial lithium exploration works at the Carr Boyd Nickel Project, rock chip assays, costs of the placement, and general working capital.

Executive commentary on the options prospectus


The company is pleased to offer the new listed options to potential investors. This prospectus provides an opportunity for interested parties to participate in the company's future growth and development. The options will enable the company to raise funds for its planned lithium exploration works at the Carr Boyd Nickel Project and other operational expenses. We believe that this offering will support our strategic initiatives and contribute to the advancement of our projects.

Summary of the options prospectus and outlook


Estrella Resources Limited (ASX:ESR) has released a prospectus for the issuance of new listed options, offering up to 325.3 million options. The company aims to utilize the proceeds from the placement to conduct initial lithium exploration works at the Carr Boyd Nickel Project, cover rock chip assays, placement costs, and general working capital. The prospectus provides an opportunity for interested parties to participate in the company's future growth and development. The company believes that this offering will support its strategic initiatives and contribute to the advancement of its projects. The options prospectus is a transaction-specific prospectus issued in accordance with section 713 of the Corporations Act, and the company is a disclosing entity for the purposes of the Corporations Act. Interested investors are encouraged to review the full prospectus for detailed information and consult their professional advisers before making any investment decisions.

Sourcehttps://announcements.asx.com.au/asxpdf/20231205/pdf/05y78p68z0550n.pdf

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