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Xanadu Mines Issues New Shares Following Change of Control

Story Highlights
  • Xanadu Mines issued 92,184,000 shares after directors and employees exercised options.
  • The issuance aligns with legal compliance and TSX exemptions, impacting market operations.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Xanadu Mines Issues New Shares Following Change of Control

Confident Investing Starts Here:

The latest announcement is out from Xanadu Mines Ltd ( (AU:XAM) ).

Xanadu Mines Ltd has issued 92,184,000 fully paid ordinary shares following the exercise of zero-exercise price options by directors and employees, triggered by a recent Change of Control event. This strategic move, executed without disclosure under Part 6D.2 of the Corporations Act, aligns with the company’s compliance with relevant legal provisions and positions it to leverage exemptions under the TSX Company Manual, potentially impacting its market operations and shareholder value.

More about Xanadu Mines Ltd

Xanadu Mines Ltd is a company operating in the mining industry, focusing on exploration and development of mineral resources. The company has operations in Australia and Mongolia, and its primary products include mineral resources extracted from these regions.

Average Trading Volume: 3,370,077

Technical Sentiment Signal: Sell

Current Market Cap: A$151.1M

For an in-depth examination of XAM stock, go to TipRanks’ Stock Analysis page.

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