Reedy Lagoon Corporation Limited (AU:RLC) has released an update.
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Reedy Lagoon Corporation Limited has announced a 1 for 1 entitlement offer at 0.2 cents per share to raise approximately $1.24 million, with the aim to fund exploration activities at the Burracoppin Gold project and provide working capital. The offer, which is not underwritten and has no minimum subscription requirement, allows existing shareholders to apply for additional shares beyond their entitlement. However, allocations of extra shares are not guaranteed and will depend on availability and company discretion.
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