Lanthanein Resources Launches Entitlement Offer and Plans Capital Consolidation

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

Lanthanein Resources Limited has announced the opening of its pro-rata non-renounceable entitlement offer, aiming to raise up to $2,107,636. The offer involves issuing three fully paid ordinary shares for every four shares held by eligible shareholders, with additional free shares attached. The funds raised will be used for exploration expenditure, working capital, and offer expenses. The offer is fully underwritten by Inyati Capital Pty Ltd and partially sub-underwritten by a company director. The company plans a general meeting to seek shareholder approval for a capital consolidation on a thirty-to-one basis, which will follow the completion of the offer.

More about Frontier Resources Limited

Lanthanein Resources Limited operates in the resources sector, focusing on exploration and development projects. The company is involved in the acquisition and exploration of mineral properties, aiming to enhance its market position through strategic resource development.

Current Market Cap: A$4.92M

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