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Magnum Mining and Exploration Limited (ASX:MGU)

ALERT: Price-sensitive ASX Announcement for MGU
Current share price for MGU : $0.007 0.004 (116.67%)+
Announcement
Release
23 Jun 2025 8:20AM
Price at Release
$0.003
Full Release
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Summary
Magnum Mining and Exploration Limited (MGU) has released a reminder regarding the closure date for its non-renounceable pro-rata entitlement offer, which allows eligible shareholders to subscribe for one new fully paid ordinary share for every three existing shares held, at an offer price of $0.01 per new share. The Entitlement Offer aims to raise up to approximately $4.4 million (before costs) and is available to shareholders whose registered addresses are in Australia or New Zealand as of the Record Date. The document details the terms, key dates, risks, and purposes of the offer, including usage of funds for project advancement, working capital, and cost coverage. It also outlines actions for eligible shareholders and implications for those who do not participate. The offer closes at 5:00pm (AEST) on 12 June 2024.
Key Points
  • MGU is conducting a non-renounceable pro-rata entitlement offer to raise up to approximately $4.4 million.
  • Eligible shareholders can subscribe for one new share for every three existing shares held at $0.01 per share.
  • The offer is only open to shareholders in Australia and New Zealand on the Record Date.
  • Funds raised will be used for project development, working capital, and costs associated with the offer.
  • The offer closes at 5:00pm (AEST) on 12 June 2024.
  • Shareholders who do not participate will have their holdings diluted.
  • The document contains details on how to accept the offer, the purpose of the raising, and associated risks.
  • Ineligible shareholders, including those outside Australia and New Zealand, will not be able to participate.
  • Key dates, rights of shareholders, and terms of the offer are clearly outlined.
  • No general offer will be made to the public other than to eligible shareholders.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.