Hydrocarbon Dynamics Limited announces rights issue and free attaching option

Hydrocarbon Dynamics Limited (ASX:HCD) has announced a 1 for 3 non-renounceable Rights Issue at 0.3 cents per share to raise up to approximately $800,000. Additionally, one free unlisted option for every two new shares will be issued, exercisable at 0.5 cents and expiring 12 months from the issue date. The Entitlement Offer is fully underwritten by Peloton Capital Pty Ltd, with Mr Ray Shorrocks (Non-executive Director) agreeing to partially sub-underwrite the offer up to $75,000 and Mr Stephen Mitchell (Chair) intending to take up his entitlements to the value of $75,000.

Executive Commentary on Rights Issue and Free Attaching Option

The company is pleased to announce the Rights Issue and free attaching option, which will provide the necessary funds to continue marketing our key product, HCD Multi-Flow®, and to explore potential investment opportunities in the energy and energy technology space. We appreciate the support of Peloton Capital Pty Ltd as the lead manager and underwriter for the offer, as well as the commitment of our directors in sub-underwriting and taking up their entitlements.

Summary of Hydrocarbon Dynamics Limited's Rights Issue Announcement

Hydrocarbon Dynamics Limited (ASX:HCD) has announced a 1 for 3 non-renounceable Rights Issue at 0.3 cents per share to raise up to approximately $800,000, along with the issuance of one free unlisted option for every two new shares. The Entitlement Offer is fully underwritten by Peloton Capital Pty Ltd, with partial sub-underwriting by Mr Ray Shorrocks and Mr Stephen Mitchell's intention to take up his entitlements. The funds raised will support the company's marketing efforts for HCD Multi-Flow® and the exploration of potential investment opportunities in the energy and energy technology space, as well as general working capital purposes. The company aims to utilize the raised funds to drive its corporate strategy and continue its growth trajectory.