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Mt Malcolm Mines NL ( (AU:M2M) ) just unveiled an update.
Mt Malcolm Mines NL has launched a pro rata non-renounceable rights issue, offering eligible shareholders one new share for every two shares held at an issue price of $0.007, aiming to raise about $1.81 million. The offer is being conducted under section 708AA of the Corporations Act without a prospectus, and the company stresses that the new shares are speculative, urging investors to consider disclosed risk factors and seek professional advice before participating.
The offer document was lodged with the ASX, which does not take responsibility for its content, and it will not be lodged with ASIC. By applying for new shares, investors are deemed to have read and accepted the terms of the offer, which is governed by Western Australian law, underlining the formal and regulated framework around this capital raising.
More about Mt Malcolm Mines NL
Mt Malcolm Mines NL is an Australian listed company operating in the mining and resources sector. The company is focused on exploration and development activities, with its shares traded on the ASX and its investor base governed by Australian corporate and securities regulations.
Average Trading Volume: 886,912
Technical Sentiment Signal: Sell
Current Market Cap: A$5.78M
For an in-depth examination of M2M stock, go to TipRanks’ Overview page.