Tasman Resources (ASX: $TAS) announces non-renounceable pro-rata rights issue

Tasman Resources Ltd (ASX: $TAS) has announced a non-renounceable pro-rata rights issue of one (1) new Share for every one (1) Share held by Qualifying Shareholders as at 5.00pm WST on 3 July 2024. The issue price is set at $0.004 per Share, aiming to raise approximately $2,850,677 before expenses of the Issue. The Issue is not underwritten.

Chairman's Letter on Non-Renounceable Rights Issue

The funds raised under this Rights Issue will be used to fund administrative costs, ongoing working capital, exploration within its held tenement at Parkinson Dam in South Australia, partial repayment of the ArkBells Loan, support investments in Eden and Conico, and pay the costs of this Offer. Two of Tasman's directors, Greg Solomon and Doug Solomon, intend to take up all or a portion of their Entitlements under this Rights Issue. The company urges Shareholders to read the Offer Document carefully and consider the Rights Issue.

Summary of the Rights Issue and Outlook

Tasman Resources (ASX: $TAS) has announced a non-renounceable pro-rata rights issue to raise approximately $2,850,677. The funds will be used for administrative costs, working capital, exploration, loan repayment, and investments in other companies. The company's directors intend to take up their Entitlements under this Rights Issue. Shareholders are encouraged to carefully consider the risks and implications of the Rights Issue before making a decision.