Black Range Minerals (ASX:BLR) announced a partially underwritten non-renounceable rights issue to raise up to $2.1 million, on the basis of one new share for every two shares held, at an issue price of $0.005 per share.

Highlights

• $2.1 million to be raised via a partially underwritten non-renounceable rights issue of shares.
• One new share to be offered for every two existing shares, at an issue price of $0.005 per share.
• Directors and Officers to take up their full entitlement and to partially underwrite the Rights Issue for a minimum of $400,000.

 Eligible shareholders to be entitled to apply for any Shortfall Shares.

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