Entitlement Offer Update
| Stock | Constellation Resources Ltd (CR1.ASX) |
|---|---|
| Release Time | 22 May 2025, 9 a.m. |
| Price Sensitive | Yes |
Constellation Resources Withdraws Entitlement Offer, Launches New Offer
- Constellation Resources withdraws previous $2.36 million entitlement offer
- New $2.52 million non-renounceable entitlement offer launched
- Eligible shareholders can purchase 1 new share for every 3 existing shares at $0.12 per share
- Funds to be used for exploration, business development, and general working capital
Constellation Resources Limited has announced the withdrawal of its previous non-renounceable entitlement offer to acquire one (1) new fully paid ordinary share for every four (4) existing shares held at $0.15 per new share, which was set out in the offer document lodged with ASX on 15 April 2025. The Directors have resolved to withdraw the offer, and all application monies received will be refunded to applicants in full. The Company has now launched a new non-renounceable entitlement offer to raise approximately $2.52 million (before costs) via the issue of up to 21,013,075 new fully paid ordinary shares. Under the new Entitlement Offer, eligible shareholders will be offered the opportunity to purchase one (1) new share for every three (3) fully paid ordinary shares held in Constellation Resources Limited at an issue price of $0.12 per new share. Funds received from the Entitlement Offer are proposed to be used to advance exploration activities at the Company's projects in Western Australia, business development activities, and for general working capital purposes including corporate and administrative costs.