Argent Minerals Limited (ASX: ARD) Completes Entitlement and Priority Option Offers
Successful Capital Raising
Argent Minerals Limited (ASX: ARD) has successfully closed its pro-rata non-renounceable Entitlement Offer and Priority Option Offer. These initiatives aimed to raise a total of $144,564 through the issuance of new options for shareholders and option holders, as detailed in the Prospectus lodged on 21 November 2024.
The Company announced it accepted applications for 38,669,712 New Options under the Entitlement Offer and 85,974,300 New Options under the Priority Option Offer. In total, the Offers raised $124,644.01 (before costs).
Entitlement Offer Details
The Entitlement Offer allowed shareholders to purchase one New Option for every ten fully paid ordinary shares at an issue price of $0.001 per New Option. A further non-renounceable issue allowed for one New Option for every listed ARDO option held, also at an issue price of $0.001.
Despite the successful uptake, a total of 163,420,036 New Options remained unclaimed under both Offers, which will create a Shortfall. The Company has secured commitments for this Shortfall and plans to complete the issue in due course.
CEO Comments
Pedro Kastellorizos, Managing Director and Chief Executive Officer of Argent Minerals Limited, expressed gratitude towards all eligible securityholders who participated in the Offers. He confirmed that the New Options will be issued to eligible holders on 17 December 2024.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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