Si6 Metals Limited (AU:SI6) has released an update.
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Si6 Metals Limited announces a rights issue with shares offered at $0.001 each pre-consolidation or $0.02 post-consolidation, with proceeds to fund exploration at its Lithium Valley, Pimento, and Monument projects, as well as for general capital. Additionally, the company seeks shareholder approval for a 1 for 20 share consolidation aimed at creating a more effective capital structure and appealing share price. The consolidation will not materially affect individual shareholder percentages and is contingent on the success of the rights issue and the upcoming Annual General Meeting approval.
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