Labyrinth Resources Limited (AU:LRL) has released an update.
Labyrinth Resources Limited is set to raise A$4 million through a combination of a share placement and an entitlement offer, targeting sophisticated and professional investors with a share price set at A$0.003. The pro rata non-renounceable entitlement offer, exclusive to Australian and New Zealand shareholders, will issue one new share for every 1.9813 shares owned. The company assures compliance with relevant Australian corporate legislation and does not anticipate major changes in control following the offers.
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