Lode Resources Ltd (AU:LDR) has released an update.
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Lode Resources Ltd is seeking shareholder approval to issue 34,303,965 ordinary shares at $0.10 each, aiming to raise approximately $3.43 million. This initiative is part of a broader strategy to enhance the company’s cash reserves and increase its capacity to issue further equity without needing additional shareholder consent. The shares are targeted at institutional and sophisticated investors, with the decision set for a General Meeting on December 11, 2024.
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