Magnetite Mines Limited (AU:MGT) has released an update.
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Magnetite Mines Limited announces a pro rata renounceable rights issue to raise approximately $4.1 million, offering up to 20,465,871 new shares and options to eligible shareholders, with an additional loyalty option offer for previous offer participants. The new shares are priced at $0.20 each, with one free option attached per share, partially underwritten to $2 million. Investors are encouraged to read the prospectus carefully and seek professional advice as needed.
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