Forrestania Resources Limited - Rights Issue Prospectus

Forrestania Resources Limited - Rights Issue Prospectus

Forrestania Resources Limited (ASX:FRS) (Forrestania or the Company), for a pro-rata non-renounceable entitlement issue of one (2) New Shares for every five (5) Shares held by those Shareholders registered at the Record Date at an issue price of $0.07 per New Share together with one (1) free New Option for every one (1) New Share subscribed for and issued to raise approximately $1,935,607 (based on the number of Shares on issue as at the Record Date) (Entitlement Offer).


This Prospectus also contains an offer of 2,000,000 New Options to the Underwriter (or its nominee(s)) (Underwriter Options Offer). Refer to Section 2.2 of this Prospectus for the details of the Underwriter Options Offer.

The Entitlement Offer is fully underwritten by RM Corporate Finance Pty Ltd (ACN 108 084 386) (AFSL 315 235) (Underwriter). Refer to Section 6.4.2 for details regarding the terms of the underwriting.

IMPORTANT NOTICE

This document is important and should be read in its entirety. If, after reading this Prospectus you have any questions about the Securities being offered under this Prospectus or any other matter, then you should consult your professional advisers without delay.

The Securities offered by this Prospectus should be considered as highly speculative.


Click here for the full ASX Release

This article includes content from Forrestania Resources, 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.

The Conversation (0)
Lithium Africa

Lithium Africa

Keep reading...Show less
Rio Tinto logo on a dark screen with stock chart background.

Rio Tinto Partners with Codelco to Develop Lithium Project in Chile

Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO)said on Monday (May 19) that it has signed binding agreements with Corporación Nacional Del Cobre de Chile (Codelco) to develop and operate a high-grade lithium project.

The asset is located in the Salar de Maricunga, a large lithium-containing resource base in Atacama, Chile. Its brine is said to have one of the highest average grades of lithium content in the world.

According to Rio Tinto, it will acquire a 49.99 percent interest in the company Salar de Maricunga, through which Codelco holds its licenses and mining concessions related to the resource base.

Keep reading...Show less
Lithium periodic symbol highlighted on periodic table.

European Metals Receives US$36 Million Grant for Cinovec Lithium-Tin Project

European Metals Holdings (ASX:EMH,LSE:EMH,OTCQX:EMHXY) confirmed the approval of a US$36 million Just Transition Fund (JTF) grant for its Cinovec lithium-tin project on Monday (April 28).

The JTF is run by the European Commission, supporting projects that align with the economic diversification and reconversion of concerned territories such as Bulgaria, the Czech Republic and Hungary.

JTF states on its website that the number of supported projects varies annually, depending on the proposals. The grant also forms part of the European Union’s efforts to transition to clean energy and achieve climate goals.

Cinovec was chosen as it was designated as a strategic project under the Critical Raw Minerals Act in March, underlining its importance in Europe’s journey toward securing stable supply of critical raw minerals. It was also declared a strategic deposit by the Czech government, a designation that accelerates certain permitting processes.

"The grant funding will be utilised to fast track a number of critical path items with regards to the Cinovec Project,” commented European Metals Executive Chair Keith Coughlan in a press release. “This confirmation builds on recent project momentum and is another clear indicator of the support the European Union and the Czech government is willing to provide to assist in getting Cinovec into production in the timeliest manner possible."

Keep reading...Show less

Latest Press Releases

Related News

×