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Stellar Resources Limited ( (AU:SRZ) ) has issued an announcement.
Stellar Resources Limited has issued 668,298,437 new fully paid ordinary shares at $0.033 each to sophisticated and professional investors, significantly expanding its share capital base. The placement, previously flagged to the market, represents a sizeable capital raise aimed at supporting the company’s ongoing operations and investment programs.
The company confirmed the shares were issued without a prospectus under the Corporations Act disclosure relief provisions and that it remains compliant with its continuous and periodic disclosure obligations. Stellar also stated there is no excluded or undisclosed price-sensitive information as at the date of the notice, providing secondary investors with assurance regarding the tradability of the new shares on the ASX.
More about Stellar Resources Limited
Stellar Resources Limited (ASX: SRZ) is an Australian-listed company engaged in mineral exploration and development, with its securities traded on the ASX. The company targets sophisticated and professional investors in the capital markets to fund its ongoing activities and growth initiatives.
Average Trading Volume: 6,240,857
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$94.96M
For a thorough assessment of SRZ stock, go to TipRanks’ Stock Analysis page.