R3D Resources

R3D Secures Additional Funding

R3D Resources Limited (ASX: R3D) (the Company) (renamed Tartana Minerals Limited) is pleased to note that it has received a commitment from an Investor to participate in a $480,000 Convertible Note in R3D and provides an update on the Rights Issue currently being conducted by the Company.


Key Points:

  • $480,000 received from an investor introduced to the Company by directors Dr Alistair Lewis and Dr Stephen Bartrop in a cash advance, pending issue of a Convertible Note on terms to be finalised;
  • Rights Issue raising up to $1.5 million at $0.05 per share to be extended by a further week, to 27 March 2024; and
  • Confidential, incomplete discussions are underway with prospective underwriters for the Rights Issue – including a related party underwriter.

Convertible Note

The Company has secured a commitment from an Investor to participate in a Convertible Note raising totalling $480,000, converting at $0.05 per Share. The $480,000 has been advanced to the Company prior to finalising terms of the Convertible Note and execution of formal documentation. In the time between the receipt of the funds and the issue of the Convertible Note, the Company has agreed to treat the funds as an unsecured loan on ordinary commercial terms. Further details of the terms of the advance, and the Convertible Note is set out in Annexure A.

The Investor was introduced to the Company by directors Alistair Lewis and Stephen Bartrop, although the Investor is not a party related to the Company or either director.

Rights Issue

The Rights Issue is a 1 for 5 pro rata entitlement offer of New Shares in the Company at an issue price of $0.05 per New Share, as well as 1 attaching Option exercisable at $0.10 expiring 31 December 2025 for each 2 New Shares subscribed for (the Rights Issue), which opened on 24 November 2023.

Eligible Shareholders can review the Rights Issue Prospectus and apply from the Company’s website: www.r3dresources.com.au or at www.computersharecas.com.au/r3dnrri.

The Company intends to further extend the Rights Issue offer open period until 27 March 2024 citing the impending completion of negotiations with certain parties who will commit to an underwriting of the Rights Issue. One of the parties with whom discussions are ongoing is a related party of the Company, being an entity controlled by Dr Stephen Bartrop. Any such underwriting would be on arms’ length terms.


Click here for the full ASX Release

This article includes content from R3D 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.

R3D:AU
The Conversation (0)
Walker Lane Resources Ltd. Notes Unusual Trading Activity and the Development of its New Website

Walker Lane Resources Ltd. Notes Unusual Trading Activity and the Development of its New Website

Walker Lane Resources Ltd. (TSX-V: WLR, "Walker Lane") announces that there has been unusual trading activity of its common shares that appeared to initiate on March 27, 2025 and appears to have occurred on each subsequent TSX-V trading day to current day. The recent stock trading activity does not reflect the health of our business or the recent significant value added assets to the property portfolio and adds to the previous undervaluation of the assets that were noted in a research report completed by Fundamental Research Corporation (see CMC Metals Ltd. press release - January 15, 2025). Management considers that some recent market transactions of its common shares could be an organized type of short selling tactic as we cannot determine any other explanation for the unusual downside trading activity.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
New Age Exploration Limited

Drilling Commences at Lammerlaw Gold and Antimony Project, NZ

New Age Exploration (ASX: NAE) (NAE or the Company) is pleased to announce the commencement of drilling at its Lammerlaw Project in New Zealand. The drill program is Phase 1 of a two-phase program to test nine high-priority targets identified through extensive geochemical surveys, geological mapping, and geophysical data interpretation.

Keep reading...Show less
Byron King, gold bars.

Byron King: Fear Trade in Play — Make Sure You've Got Gold, Silver

Byron King, editor at Paradigm Press, shares his thoughts on a wide array of hot topics, including gold's historic price rise, inflation and the ongoing tariff situation

In his view, it's more important than ever for investors to have hard assets in their portfolio.

Keep reading...Show less
Gold bars on financial charts and a notebook.

Top 5 ASX Gold Stocks of 2025

Gold has continued to perform exceptionally well in 2025 and even broke through the AU$5,000 per ounce mark for the first time on April 1, when it reached a new all-time high of AU$5,034.

Markets have experienced significant volatility since the start of US President Donald Trump’s term. Tariff threats have created unease among US allies attempting to avoid a full-scale trade war with the world’s largest economy.

The rising gold price also coincides with increasing tensions in the Middle East, where attacks against Iran-backed Houthis in Yemen have intensified. These and other circumstances have prompted investors to seek the safe haven of gold, leading the yellow metal to repeatedly hit new record-high prices throughout the year.

Keep reading...Show less
Rio Silver

Rio Silver


Keep reading...Show less

Latest Press Releases

Related News

×