Lanthanein Resources Announces Rights Issue and Proposed Capital Consolidation

Frontier Resources Limited ( (AU:LNR) ) has shared an update.

Lanthanein Resources Ltd announced a pro-rata non-renounceable rights issue to raise up to $2,107,636. The offer is fully underwritten and aims to fund exploration, working capital, and related expenses. A general meeting is scheduled to seek approval for a capital consolidation on a 30:1 basis, which will affect the newly issued shares if approved. The offer is limited to shareholders in Australia and New Zealand, with ineligible shareholders facing dilution.

More about Frontier Resources Limited

Lanthanein Resources Ltd operates in the resource exploration industry, focusing on the exploration and development of mineral resources. The company is listed on the Australian Securities Exchange under the ticker LNR and is engaged in activities aimed at expanding its resource base and increasing shareholder value.

Current Market Cap: A$4.92M

For an in-depth examination of LNR stock, go to TipRanks’ Overview page.