Variscan Mines Completes Successful Share Entitlement Offer

Variscan Mines Limited (AU:VAR) has released an update.

Variscan Mines Limited successfully concluded its fully underwritten renounceable entitlement offer, raising $913,130 through the issue of over 130 million shares. The offer, which provided two new shares for every three held, also included an option for every four shares subscribed. The company is now collaborating with Whairo Capital to address the shortfall of approximately 164 million shares.

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