Latrobe Magnesium Limited ( (AU:LMG) ) has issued an update.
Latrobe Magnesium Limited has corrected a previous announcement and confirmed the placement of 250 million shares at 1.1 cents per share. As part of the capital raising, LMG is issuing 20 million unlisted options to the lead manager or broker of the placement, with each option convertible into one ordinary share at an exercise price of 1.9 cents. These options are exercisable until April 2028, and the shares issued upon exercise will rank equally with existing shares. This move is part of LMG’s financial strategy to bolster its capital structure and enhance its market operations.
More about Latrobe Magnesium Limited
Latrobe Magnesium Limited (LMG) operates in the magnesium industry, focusing on the production and supply of magnesium products. The company is involved in innovative processes to extract and produce magnesium, catering to various industrial applications.
YTD Price Performance: -35.00%
Average Trading Volume: 1,413,321
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$30.53M
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