Atrum Coal Ltd (AU:ATU) has released an update.
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Atrum Coal Ltd is launching a fully underwritten entitlement offer aiming to raise approximately A$5.8 million, priced at A$0.004 per share, to fund ongoing litigation against the Alberta government and cover operational costs. The offer, providing a 20% discount on recent share prices, is backed by major shareholder commitments and includes a top-up option for eligible shareholders. Despite the suspension of its shares on the ASX, Atrum is pressing forward to secure resources needed for its legal and operational needs.
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