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Scorpion Minerals Limited ( (AU:SCN) ) just unveiled an announcement.
Scorpion Minerals Limited has issued a cleansing prospectus for an offer of up to 10,000 new shares at $0.025 per share, primarily to remove trading restrictions on all shares issued or quoted on the ASX by the company prior to the closing date. The transaction-specific prospectus, prepared under section 713 of the Corporations Act and for the purposes of section 708A(11), is largely administrative in nature, aimed at ensuring existing and future shareholders can freely trade previously issued shares on the ASX, thereby supporting liquidity in the company’s stock rather than raising significant new capital.
More about Scorpion Minerals Limited
Scorpion Minerals Limited is an Australian company listed on the ASX under the code SCN, operating in the resources sector. Headquartered in West Perth, Western Australia, the company is managed by a board comprising a non-executive chairman, an executive director for finance, and a non-executive director, with operational leadership provided by a chief executive officer and supported by company secretaries and established corporate advisers.
Average Trading Volume: 1,544,787
Technical Sentiment Signal: Sell
Current Market Cap: A$13.2M
For detailed information about SCN stock, go to TipRanks’ Stock Analysis page.