Ozz Resources Launches Entitlement Offer to Raise $1.07m and Cut Debt

Ozz Resources Ltd ( (AU:OZZ) ) has shared an update.

Ozz Resources Limited has launched a pro-rata non-renounceable entitlement offer, allowing eligible shareholders to subscribe for 19 new shares for every 66 held at an issue price of $0.04 per share, seeking to raise up to approximately $1.07 million. The funds will primarily be used to convert existing debt, pursue project and business acquisition opportunities, cover tenement expenditure and working capital, and pay offer costs, increasing cash reserves and expanding the company’s share base, while shareholders outside Australia and New Zealand are excluded from participating under ASX listing rules.

The most recent analyst rating on (AU:OZZ) stock is a Sell with a A$0.05 price target. To see the full list of analyst forecasts on Ozz Resources Ltd stock, see the AU:OZZ Stock Forecast page.

More about Ozz Resources Ltd

Ozz Resources Limited is an Australia-based resources company listed on the ASX, focused on mineral exploration and related project acquisition opportunities. The company deploys its capital across tenement expenditure, working capital needs and evaluating potential project and business acquisitions within the resources sector.

Technical Sentiment Signal: Sell

See more insights into OZZ stock on TipRanks’ Stock Analysis page.