Blackstone Minerals

Blackstone Completes Institutional Component of Entitlement Offer

Blackstone Minerals Limited (ASX: BSX) (“Blackstone” or the “Company”) is pleased to announce the successful completion of the institutional component (“Institutional Entitlement Offer”) of its accelerated non-renounceable pro rata entitlement offer as announced on 5 December 2023 (“Entitlement Offer”).


HIGHLIGHTS

  • Existing and new institutional investors highly supportive of the Institutional Entitlement Offer raising $3m and supportive of the Option Agreement over the Wabowden Nickel Project and strategy.
  • Successful completion of institutional component of pro rata accelerated non-renounceable entitlement offer and institutional bookbuild.
  • Commencement of retail component of the Entitlement Offer on Tuesday, 12 December 2023.

Institutional Entitlement Offer

The Institutional Entitlement Offer opened on Tuesday, 5 December 2023 and closed on Wednesday 6 December 2023 raising approximately $3m at the offer price $0.07.

The Institutional Entitlement Offer was strongly supported by existing institutional shareholders of the Company, whilst also receiving demand from new institutional investors.

Under the Entitlement Offer, eligible shareholders are invited to subscribe for four (4) New Shares for every thirteen (13) existing Shares held at an offer price of $0.07 per share.

The Company’s shares will recommence trading today on the ASX on an ex-entitlement basis.

All New Shares issued under the Entitlement Offer will rank equally with the existing Shares on issue. The Company will apply for quotation of the New Shares issued under the Entitlement Offer.

Canaccord Genuity and Argonaut Securities Pty Limited have been appointed as joint lead managers and bookrunners to the Entitlement Offer (the “Joint Lead Managers”).

Retail Entitlement Offer

Retail shareholders with a registered address in Australia or New Zealand as at 5.00pm (AWST) on Thursday, 7 December 2023 (“Record Date”) (“Eligible Retail Shareholders”) will be invited to participate in the Retail Entitlement Offer on the same terms as the Institutional Entitlement Offer.

Shareholders who are not Eligible Retail Shareholders are not eligible to participate in the Retail Entitlement Offer (“Ineligible Retail Shareholders”).

The Retail Entitlement Offer is expected to open at 9.00am (AWST) on Tuesday, 12 December 2023 and close at 5.00pm (AWST) on Thursday, 21 December 2023.

Eligible Retail Shareholders can choose to take up all, or part or none of their Entitlement under the Retail Entitlement Offer.

The Retail Entitlement Offer will be made under the transaction specific prospectus lodged with ASIC and the ASX on Tuesday, 5 December 2023 (“Prospectus”). The Prospectus will be dispatched to Eligible Retail Shareholders, together with a personalised entitlement and acceptance form on Tuesday, 12 December 2023.

Eligible Retail Shareholders may also apply for New Shares in addition to their Entitlement at the Offer Price, to the extent there is any shortfall under the Retail Entitlement Offer and will be offered on the same terms and conditions as the Retail Entitlement Offer.

Further details of the terms and conditions of the Entitlement Offer are detailed in the Prospectus dated 5 December 2023.


Click here for the full ASX Release

This article includes content from Blackstone Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

BSX:AU
Blackstone Minerals

Blackstone Minerals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Blackstone Minerals

Blackstone Minerals


Keep reading...Show less
Canada Nickel (TSXV:CNC)

Canada Nickel


Keep reading...Show less
australia flag draped over rolls of nickel

Australia Adds Nickel to Critical Minerals List

Nickel’s plunging price has prompted the Australian government to add the metal to its critical minerals list.

Nickel is considered a key material for the electric vehicle (EV) battery and energy storage sectors, but demand for the metal is still primarily linked to the stainless steel industry.

Right now, global economic pressures are weighing on demand across the board. At the same time, the nickel market is experiencing a significant supply overhang from Indonesia, the Philippines and China. The prevailing supply/demand imbalance has been clearly reflected in nickel prices, which hit their lowest level in three years in mid-February.

Keep reading...Show less
Pivotal Metals

Drilling at Horden Lake to Drive Substantial Re-rating for Pivotal Metals, Analyst Report Says

Description:

Pivotal Metals’ (ASX:PVT) two-rig, 8,000-metre drill program at Horden Lake could capture investors’ attention on the “extreme value and potential upside” of Pivotal shares, according to a report by Hong Kong-based equity research firm Orior Capital.

Keep reading...Show less
Blackstone Minerals

Blackstone Minerals Funding Strategy Update

Blackstone Minerals Limited (ASX: BSX) (“Blackstone” or the “Company”) would like to provide an update on its funding strategy and corporate activities:

Keep reading...Show less
Blackstone Minerals

Quarterly Report for the Period Ending 31 December 2023

Blackstone Minerals Limited (ASX: BSX) (“Blackstone” or the “Company”) entered into an option agreement with CaNickel Mining Limited (TSX.V:CML) (“CaNickel”) where Blackstone will have an exclusive right to acquire the Wabowden nickel project in Manitoba, Canada (“Wabowden”) within a 12-month period.

Keep reading...Show less
Blackstone Minerals

Blackstone Minerals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×