Green Critical Minerals Limited (ASX:GCM) Issues Options Prospectus
Offer Details
Green Critical Minerals Limited (ASX:GCM) has issued a prospectus for up to 10,000 Listed Options at nil issue price. The primary aim is to remove trading restrictions on previously issued or quoted options before the closing date of 4 February 2025. The offer is not underwritten and is exclusively available to invited investors.
Financial Impact
The Offer does not intend to raise funds. Upon covering the Offer’s expenses estimated at approximately $31,581 (excluding GST), the company’s cash reserves will decrease by this amount. There are no net proceeds expected from the Offer.
Litigation Update
GCM is engaged in legal proceedings against Hexagon Energy Minerals Limited concerning the McIntosh Graphite Project. The company alleges a breach of warranties under the earn-in agreement due to discrepancies in metallurgical test results provided by Hexagon. The case is currently in the Supreme Court of Western Australia, with both parties having filed their respective claims and defences.
Additional Information
The Listed Options will be quoted on the ASX following the necessary application within seven days post-prospectus date. Shares issued upon exercising the options will hold equal rank with existing shares. Detailed information regarding the Offer, risks, and the company’s operational strategies can be found in the full prospectus available on the company’s website.
Motley Fool contributor Kiarra Jackson 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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