PR2.ASX: Non-Renounceable Entitlement Offer to Raise $2.5 Million

Non-Renounceable Entitlement Offer to Raise $2.5 Million

Stock	PR2.ASX (PR2.ASX)
Release Time	24 Jul 2026, 9:39 a.m.
Price Sensitive	Yes

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PR2.ASX Announces $2.5M Non-Renounceable Entitlement Offer

Key Points

1 for 1 non-renounceable entitlement offer to raise $2.5M
Funds for exploration, acquisitions, and working capital
Gerard O'Donovan to join board post-offer

Full Summary

Piche Resources Limited (ASX:PR2) has announced a 1 for 1 non-renounceable pro-rata entitlement offer to raise up to $2.5 million (before costs) at an issue price of A$0.018 per share. The offer will include attaching options for every three new shares subscribed for, with an exercise price of $0.027 and a three-year expiry. Proceeds will fund exploration of Argentinian projects, potential project acquisitions, and general working capital. Gerard O'Donovan will join the board as a Non-Executive Director post-offer, with a commitment to provide $200,000 in sub-underwriting. Clark Beyer has resigned from the board. Cumulus Wealth has been appointed as lead manager, and discussions with Leeuwin Wealth for underwriting are ongoing. A top-up placement is also being considered.

Guidance

The company aims to raise up to $2.5 million from the entitlement offer.

Outlook

The company expects the funds to support exploration and potential acquisitions, with Gerard O'Donovan joining the board.