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Catalina Resources Limited Announces Rights Issue to Raise $2.27 Million

Story Highlights
  • Catalina Resources Limited is offering new shares to raise approximately $2.27 million.
  • The rights issue is strategic but involves speculative shares, posing risks for investors.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Catalina Resources Limited Announces Rights Issue to Raise $2.27 Million

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The latest announcement is out from Shree Minerals Limited ( (AU:CTN) ).

Catalina Resources Limited is conducting a pro rata non-renounceable rights issue, offering one new share for every two existing shares held by eligible shareholders, at an issue price of $0.003 per new share. The offer aims to raise approximately $2,274,392 before costs, with additional free shares available under certain conditions. This initiative is a strategic move to bolster the company’s financial position, though the new shares are considered speculative, indicating potential risks for investors.

More about Shree Minerals Limited

Current Market Cap: A$5.27M

See more insights into CTN stock on TipRanks’ Stock Analysis page.

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