Verity Resources Raises Full $2.05m Through Entitlement Offer

Verity Resources ( (AU:VRL) ) just unveiled an announcement.

Verity Resources has successfully closed its pro-rata non-renounceable entitlement offer, raising the full available amount of approximately $2.05 million. The offer, priced at $0.025 per new share on a one-for-five basis and accompanied by free unquoted options, saw both valid shareholder participation and the placement of shortfall shares to sophisticated investors and underwriters.

In total, the company will issue 81,826,191 new shares and an equivalent number of options exercisable at $0.036 over five years, strengthening its capital base. The fully subscribed raising enhances Verity’s financial capacity to advance its Monument Gold Project in Western Australia and its Brazilian critical metals joint venture, supporting its strategic positioning in both gold and emerging battery and critical minerals markets.

More about Verity Resources

Verity Resources is an Australian minerals company focused on gold and critical metals. It owns 100% of the Monument Gold Project near Laverton in Western Australia, which hosts a JORC-compliant inferred resource of 3.257 million tonnes at 1.4 grams per tonne for 154,000 ounces of gold. The company also has a joint venture portfolio in Brazil covering rare earths, lithium, gold, and other base and precious metals, including licences in the “Lithium Valley” and Poços de Caldas regions of Minas Gerais.

Average Trading Volume: 3,330,767

Technical Sentiment Signal: Sell

Current Market Cap: A$13.26M

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