Renounceable Rights Issue to Raise Up to $3 Million

Key points

• One-for-three renounceable rights issue priced at $0.015 per share
• Funds to finalize mineral resource estimate and drill at Golden Ridge
• New options offered with exercise price of $0.03 and 30-month term
• Rights issue partially underwritten by Mahe Capital to $1.5M
• Shareholders can trade rights from 25 September 2026

Full summary

Flynn Gold Ltd (ASX: FG1) announced a one-for-three renounceable rights issue at an issue price of $0.015 per share to raise up to $3 million. The rights issue is priced at a 21.05% discount to the last price and 18.42% to the 5-day VWAP. For every two new shares subscribed, eligible shareholders will receive one free attaching new option with an exercise price of $0.03 per option, expiring 30 months from the date of issue. The rights issue is partially underwritten by Mahe Capital to $1.5 million. The funds raised will be used to finalize the mineral resource estimate on the Firetower Gold-Tungsten Project and to continue resource drilling activities at the Golden Ridge Project in Tasmania.