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Sultan Resources Ltd. ( (AU:SLZ) ) has shared an announcement.
Sultan Resources Ltd has announced a non-renounceable entitlement offer to raise approximately $1,157,349 before costs. This equity raising will allow eligible shareholders to purchase one new share for every share held, potentially issuing an additional 231,469,910 shares if fully subscribed. The offer is not underwritten, and any shortfall will be managed at the company’s discretion. The impact on company control will depend on investor demand, but if all shareholders subscribe, ownership percentages will remain unchanged.
More about Sultan Resources Ltd.
Sultan Resources is an Australian exploration company with a portfolio of quality assets in emerging discovery terranes. The company focuses on nickel-cobalt and gold targets in Western Australia, lithium claims in NW Ontario, Canada, and copper and gold prospects in Central NSW. Sultan Resources is committed to responsible metal discovery using modern exploration techniques to add value for shareholders.
Technical Sentiment Signal: Sell
Current Market Cap: A$1.5M
Learn more about SLZ stock on TipRanks’ Stock Analysis page.