Cauldron Energy Announces Entitlement Offer to Raise $1.95 Million

An announcement from Cauldron Energy ( (AU:CXU) ) is now available.

Cauldron Energy Limited has announced a pro-rata renounceable entitlement offer to raise up to $1,948,539 by issuing two new shares for every nine shares held at an issue price of $0.006 per share. This offer is fully underwritten by Parle Investments Pty Ltd and aims to issue approximately 324,756,580 shares, increasing the total shares on issue to 1,786,161,189. Ineligible shareholders, those outside Australia, New Zealand, and Hong Kong, will not participate directly in the offer but will have their entitlements sold by a nominee, with net proceeds distributed to them. This move is expected to bolster the company’s financial position, although ineligible shareholders may not receive value if sale costs exceed proceeds.

More about Cauldron Energy

Cauldron Energy Limited operates in the energy sector, focusing on the development and exploration of uranium and other energy-related resources. The company is based in Australia and is engaged in projects that aim to harness and provide sustainable energy solutions.

Average Trading Volume: 1,371,496

Technical Sentiment Signal: Sell

Current Market Cap: A$12.5M

Learn more about CXU stock on TipRanks’ Stock Analysis page.