BBX Minerals Limited (AU:BCM) has released an update.
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Brazilian Critical Minerals Ltd has launched a non-renounceable pro-rata entitlement offer to raise approximately $2.9 million by issuing new shares at $0.01 each. Shareholders can purchase one new share for every three they own, with the potential dilution of stakes for those not participating, including the company’s largest shareholder, Drake Special Situations LLC. Any shortfall from the offer will be addressed at the company’s discretion, with a cap on additional share acquisitions to maintain voting power below 19.90%.
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