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An announcement from Allup Silica Ltd. ( (AU:MML) ) is now available.
McLaren Minerals has launched a share purchase plan offering eligible shareholders in Australia and New Zealand up to A$30,000 of new shares at A$0.016 each, a discount of about 16% to the recent market price. Participants will also receive one free attaching option for every two new shares, subject to shareholder approval, with the options matching the terms of the company’s existing quoted options.
The capital raising aims to secure A$1.5 million and is fully underwritten by Leeuwin Wealth, with the company reserving the right to accept oversubscriptions or scale back applications if demand exceeds the target. The structure of the offer, including discounted pricing and attaching options, is designed to incentivise retail shareholder participation and bolster McLaren Minerals’ funding position for its ongoing activities.
More about Allup Silica Ltd.
McLaren Minerals Limited is an Australia-based resources company listed on the ASX under the ticker MML. The company is focused on mineral exploration and development, providing investors exposure to the mining sector through its portfolio of exploration assets.
Average Trading Volume: 1,239,381
Technical Sentiment Signal: Sell
Current Market Cap: A$7.64M
Learn more about MML stock on TipRanks’ Stock Analysis page.