Single Tranche Private Placement Offer utilising the company’s Listing Rule 7.1 capacity to raise up to $1,000,000 with the ability to take $600,000 in oversubscriptions at an issue price of $0.13.
The placement offer comes with 1:2 free attaching unlisted options with an exercise price of $0.26, expiring 18 December 2026. The issuance of the options may require shareholder approval at the General Meeting.
Post the Placement Offer, the company will also conduct a 1 for 10 Non- Renounceable Entitlement Offer on the same terms as the placement offer seeking to raise approximately $1m. Placement investors will be eligible for the Entitlement Offer.