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Lanthanein Resources Ltd (ASX:LNR)

ALERT: Price-sensitive ASX Announcement for LNR
Current share price for LNR : $0.067 0.066 (6,600%)+
Announcement
Release
4 Jul 2025 8:24AM
Price at Release
$0.001
Full Release
download
Summary
Lanthanein Resources Ltd (LNR) has issued an Entitlement Issue Prospectus to raise up to $3,632,166 through a pro-rata non-renounceable entitlement issue of one (1) new share for every ten (10) shares held by eligible shareholders at an issue price of $0.01 per share, with one (1) free attaching option for every two (2) shares subscribed for. The offer is fully underwritten and aims to fund exploration at the Lyons Rare Earths Project, meet working capital requirements, and pay the costs of the offer. The document outlines the details of the offer, application procedures, use of funds, potential risks, rights, and liabilities associated with the new shares and options, as well as broader company and project overviews.
Key Points
  • Lanthanein Resources Ltd is conducting a pro-rata non-renounceable entitlement issue to raise up to $3,632,166.
  • Eligible shareholders can subscribe for one new share for every ten shares held at $0.01 per share.
  • Each two new shares will include one free attaching option exercisable at $0.02 before 30 June 2026.
  • The offer is fully underwritten by the lead manager, Mahe Capital Pty Ltd.
  • Funds will be allocated primarily to exploration at the Lyons Rare Earths Project, as well as general working capital and offer costs.
  • Directors intend to participate in the offer.
  • The offer provides details on how to accept entitlements, apply for additional shares, and the ASX listing of new securities.
  • Risks related to the offer include exploration, commodity price, economic, and regulatory uncertainties.
  • The prospectus provides information on the company, project overviews, board and management, capital structure, and financial information.
  • Timetable, rights of shareholders, disclosure of material contracts, and underwriting agreements are detailed within the prospectus.
  • The new shares will rank equally with existing shares once issued.
  • Application procedures, eligibility, and treatment of overseas shareholders are thoroughly explained.
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.