Si6 Metals (ASX:SI6) rights issue and consolidation announcement

Si6 Metals Limited (ASX:SI6) has announced its intention to undertake a non-renounceable rights issue and consolidation. The rights issue will offer one fully paid ordinary share for every two shares held by eligible shareholders at an issue price of $0.001 per share (pre-consolidation) or $0.02 per share (post-consolidation). The funds raised from the rights issue will be allocated towards funding exploration programs at the Company's Lithium Valley, Pimento, and Monument projects, as well as for general working capital purposes. Additionally, the Company plans to consolidate its issued capital on a 1 for 20 basis, subject to shareholder approval, to achieve a more effective capital structure for continued growth and to make the share price more appealing to a wider range of investors.

Executive commentary on rights issue and consolidation

The Company's decision to undertake a rights issue and consolidation is aimed at securing the necessary funds for advancing exploration programs at our key projects, including Lithium Valley, Pimento, and Monument. This strategic move will enable us to strengthen our position in the supply-critical metals and minerals exploration sector. Furthermore, the planned consolidation of issued capital is designed to create a more attractive share price for potential investors, supporting the Company's growth objectives. We believe that these initiatives will contribute to the long-term sustainability and development of Si6 Metals.

Summary of Si6 Metals' rights issue and consolidation plans

Si6 Metals (ASX:SI6) has unveiled its plans for a non-renounceable rights issue and a proposed consolidation of its issued capital. The rights issue, offering one fully paid ordinary share for every two shares held by eligible shareholders, aims to raise funds for exploration programs at the Company's key projects, including Lithium Valley, Pimento, and Monument, as well as for general working capital purposes. Additionally, the Company intends to consolidate its issued capital on a 1 for 20 basis, subject to shareholder approval, to achieve a more effective capital structure for continued growth and to make the share price more appealing to a wider range of investors. These strategic moves reflect Si6 Metals' commitment to advancing its exploration activities and enhancing shareholder value.