GCM Corporation Issues 4.5 Million New Shares Under Cleansing Notice

Chase Mining Corporation Limited ( (AU:GCM) ) has provided an update.

GCM Corporation Limited has issued 4.5 million fully paid ordinary shares without a prospectus, using provisions under section 708A of the Corporations Act to conduct the placement to investors. The company confirmed it is up to date with its financial reporting and continuous disclosure obligations and that there is no excluded information requiring disclosure, providing regulatory assurance around the new share issue.

The cleansing notice formally informs the market that the new shares can be traded on the ASX without requiring further disclosure, reinforcing transparency for existing and prospective shareholders. The move slightly expands GCM’s share capital base while signalling compliance with Australian corporate law, which may support investor confidence in its governance and disclosure practices.

The most recent analyst rating on (AU:GCM) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Chase Mining Corporation Limited stock, see the AU:GCM Stock Forecast page.

More about Chase Mining Corporation Limited

GCM Corporation Limited, listed on the ASX under the code GCM, operates as a public company in Australia. It issues fully paid ordinary shares to support its corporate and capital management activities in line with Australian corporate and securities regulations.

Average Trading Volume: 8,109,802

Technical Sentiment Signal: Buy

Current Market Cap: A$43.4M

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