White Cliff Investors Offered Priority in Hydrocarbon Dynamics IPO for Great Bear Project

The latest announcement is out from White Cliff Minerals Limited ( (AU:WCN) ).

Hydrocarbon Dynamics Ltd, which plans to be renamed Great Bear Exploration Ltd, is proceeding with the acquisition of the Great Bear Project from White Cliff Minerals Ltd and has lodged an IPO prospectus with the Australian regulator. The offer seeks to raise up to A$6.5 million through the issue of up to 325 million shares at A$0.02, with Peloton Capital acting as lead manager and with priority allocation to existing White Cliff shareholders.

White Cliff Minerals has advised its shareholders that they may apply for shares in the Hydrocarbon Dynamics offer under the terms of the prospectus or take no action if they do not wish to participate. The move gives White Cliff investors preferential access to the new vehicle being formed around the Great Bear Project, potentially allowing them to retain exposure to the asset as it transitions into a separately funded and listed exploration company.

The most recent analyst rating on (AU:WCN) stock is a Buy with a A$0.05 price target. To see the full list of analyst forecasts on White Cliff Minerals Limited stock, see the AU:WCN Stock Forecast page.

More about White Cliff Minerals Limited

White Cliff Minerals Limited is an Australian-listed resources company active in mineral exploration and project development. Its portfolio includes interests that can be divested or farmed out to other explorers and developers, such as the Great Bear Project now being sold to Hydrocarbon Dynamics Ltd, reflecting a strategy of value generation through asset transactions and partnerships.

Average Trading Volume: 6,088,373

Technical Sentiment Signal: Sell

Current Market Cap: A$38.6M

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