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Verity Resources Shifts Fundraising Strategy to Rights Issue

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Verity Resources Shifts Fundraising Strategy to Rights Issue

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

Verity Resources Limited has announced a shift in its fundraising strategy, opting to cancel a proposed private placement in favor of a renounceable rights issue. This rights issue allows existing shareholders to purchase one new share for every two shares held at a discounted price, with the aim of raising approximately $1.1 million. The funds will be used to advance the Monument Gold Project, including drill programs and exploration of additional targets. The rights issue is partially underwritten, ensuring a minimum level of funding, and is open to shareholders in select international jurisdictions.

More about Verity Resources

Verity Resources Limited is a company operating in the resource sector, focusing on the exploration and development of mineral projects. The company’s primary market focus is on advancing its gold projects, particularly the Monument Gold Project.

Technical Sentiment Signal: Sell

Current Market Cap: $2.07M

See more data about VRL stock on TipRanks’ Stock Analysis page.

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