Vertex Minerals Ltd's Entitlement Offer Announcement

Vertex Minerals Ltd (ASX: $VTX) has announced a pro-rata non-renounceable entitlement issue to raise up to $3,683,200. The offer entails three (3) Shares for every five (5) Shares held at an issue price of $0.08 per Share, along with one (1) free Listed Option for every three (3) Shares applied for and issued. The offer is partially underwritten up to the value of $1,800,000 by CPS Capital Group Pty Ltd. Additionally, the company has entered into convertible loan agreements with substantial shareholders for debt conversions. The offer is not extended to overseas shareholders, and the company has outlined the key risk factors and the details of substantial holders in the prospectus.

Executive Commentary on Entitlement Offer

The Entitlement Offer is a strategic move to raise necessary funds for our operations over the next 12 months. We believe that the offer, if fully subscribed, will significantly bolster our cash reserves and provide the working capital required to achieve our objectives. It is important for prospective investors to carefully consider the details provided in the prospectus, including the risks associated with the investment, before making any decisions.

Summary of Vertex Minerals Ltd's Entitlement Offer

Vertex Minerals Ltd (VTX) is planning to raise up to $3,683,200 through a pro-rata non-renounceable entitlement issue. The funds raised will be utilized for the company's operations over the next 12 months. If fully subscribed, the offer will increase the company's cash reserves by $3,513,475 and have a significant impact on the company's capital structure, increasing the number of shares and options on issue. The company has provided detailed information in the prospectus regarding the rights and liabilities attaching to shares and listed options, the speculative nature of the investment, and other relevant disclosures. This announcement outlines the company's strategic move to raise capital and provides essential details for potential investors to consider.