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Westar Resources Limited (ASX:WSR)

ALERT: Price-sensitive ASX Announcement for WSR
Current share price for WSR : $0.007 0 (0%)+
Announcement
Release
23 Feb 2026 9:55AM
Price at Release
$0.007
Full Release
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Summary
Westar Resources Limited announced a plan to raise $1.49 million through a two-tranche placement involving sophisticated and professional investors. The placement includes Tranche 1 with 40,000,000 shares at $0.006 and Tranche 2 requiring shareholder approval for 250,000,000 shares at $0.005, reflecting significant discounts to recent trading prices. CPS Capital Group Pty Ltd will manage the placement, earning fees and options. The raised funds are earmarked for exploration, general working capital, due diligence on new projects, and offer costs, with a shareholder meeting set for early April 2026.
Key Points
  • Westar Resources Limited plans to raise $1.49 million through a two-tranche placement.
  • Tranche 1 involves issuing 40,000,000 Placement Shares at $0.006 under the Company’s placement capacity.
  • Tranche 2 requires shareholder approval for 250,000,000 Placement Shares at $0.005.
  • The issue prices represent discounts of 33.2% and 19.8% to recent trading prices.
  • CPS Capital Group Pty Ltd is the lead manager with a placement fee of 2% and a management fee of 6%.
  • A shareholder meeting is expected in early April 2026.
  • Funds will be used for exploration, working capital, due diligence, and costs of the offer.
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.