VRX Silica's $3.1m Renounceable Entitlement Offer

VRX Silica Limited (ASX: $VRX) has announced the launch of a renounceable entitlement offer to eligible shareholders, aiming to raise approximately $3.14 million before expenses. The offer entails 1 new share for every 13 shares held at $0.07 per share, along with 1 free attaching option for every 2 shares subscribed, exercisable at $0.18 each on or before 31 August 2025. The offer is partially underwritten up to $2.6 million by Canaccord Genuity (Australia) Limited.

Executive Commentary on Entitlement Offer

The Company is pleased to announce the launch of the renounceable entitlement offer, which will provide eligible shareholders with the opportunity to participate in the Company's growth and development. The proceeds from the offer will be instrumental in advancing our Muchea project, Arrowsmith North project, VDT trials, environmental follow-up, and working capital. We appreciate the support of Canaccord Genuity (Australia) Limited as the lead manager and underwriter for this offer.

Summary of VRX Silica's Entitlement Offer

VRX Silica Limited (ASX: $VRX) has initiated a renounceable entitlement offer to raise approximately $3.14 million before expenses. The offer includes 1 new share for every 13 shares held at $0.07 per share, accompanied by 1 free attaching option for every 2 shares subscribed, exercisable at $0.18 each on or before 31 August 2025. The funds raised will be allocated to the Company's Muchea project, Arrowsmith North project, VDT trials, environmental follow-up, and working capital. The Company's proactive approach to funding its projects demonstrates its commitment to advancing its silica sand projects and geothermal energy permit in Western Australia.