
June 25, 2023
Forrestania Resources Limited (ASX:FRS) (Forrestania or the Company) advises that its Entitlement Offer in accordance with the Prospectus dated 29 May 2023 (Entitlement Issue) closed on 21 June 2023.
The Entitlement Offer was made to eligible shareholders on the basis of two (2) new fully paid ordinary shares (Shares) for every five (5) Shares held on the record date, at $0.07 per share, together with one (1) free option for every one (1) new Share (Option) with an exercise price of $0.15 each on/or before 30 June 2026, proposed to be listed on ASX. The Entitlement Issue was fully Underwritten by RM Corporate Finance Pty Ltd.
The Company received total applications for 13,326,466 Shares ($932,853), and applications for a further 10,795,769 ($755,704) Shares under the Shortfall Offer.
The balance of the offer being 3,529,286 Shares ($247,050) will be allocated to the Underwriter (or its nominees) in accordance with the Underwriting Agreement.
The Shares and Options will be issued as per the timetable for the Entitlement Offer. Application is being made for the Options to be listed and they will trade under the ticker FRSOA.
The Directors wish to thank those shareholders who participated in the Entitlement Offer for their ongoing support of the Company.
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.
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