Nagambie Resources Opens Share Purchase Plan for Existing Investors

Nagambie Resources Limited ( (AU:NAG) ) has provided an announcement.

Nagambie Resources Limited has launched a share purchase plan allowing eligible shareholders to subscribe for up to A$30,000 of new fully paid ordinary shares at an issue price of 1.3 cents per share. The offer is now open following the lodgement of a cleansing notice, which confirms the shares will be issued without a full prospectus in accordance with ASIC relief.

The company states it is compliant with its financial reporting and continuous disclosure obligations and declares there is no excluded information that investors are not aware of. This capital raising mechanism is expected to provide an accessible avenue for existing shareholders to increase their holdings and support Nagambie’s funding requirements without the cost and delay of a traditional disclosure document.

The most recent analyst rating on (AU:NAG) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Nagambie Resources Limited stock, see the AU:NAG Stock Forecast page.

More about Nagambie Resources Limited

Nagambie Resources Limited is an Australian resources company listed on the ASX under the code NAG. The company is involved in mining and exploration activities in Victoria, focusing on developing its assets and raising capital from shareholders to support its operational and growth plans.

YTD Price Performance: 18.18%

Average Trading Volume: 3,963,415

Technical Sentiment Signal: Strong Sell

Current Market Cap: A$13.42M

For an in-depth examination of NAG stock, go to TipRanks’ Overview page.