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FORTUNA METALS LTD — Capital/Financing Update 2021
Sep 19, 2021
64952_rns_2021-09-19_fda8a490-b2f8-4762-b4d9-ad7e21f8d165.pdf
Capital/Financing Update
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ADDRESS PHONE Level 11, BGC Centre +61 (8) 9486 4036 28 The Esplanade ABN WEBSITE Perth WA, 6000 Australia 96 095 684 389
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ASX Limited
Market Announcements Platform
20 September 2021
Notice of Rights Issue Shortfall
Frontier Resources Limited ( Frontier ) advises that the underwritten non-renounceable entitlement issue of shares announced on 3 August 2021 closed on 15 September 2021 heavily oversubscribed (the Offer ). Under the Offer eligible shareholders were able to subscribe for one (1) Option for every eight (8) Shares held by those Shareholders registered as at as at Record Date at an issue price of $0.013 per Share to raise up to $957,291 (before costs of the offer), being up to approximately 73,637,743 Shares.
The results of the offer are as follows:
| Number of New Shares | Amount Raised | |
|---|---|---|
| New Shares offered under the Offer | 73,637,743 | $957,291 |
| New Shares subscribed for under the Offer | 52,339,544 | $680,414 |
| Number of shortfall Shares | 21,298,199 | $276,877 |
52,339,544 new Shares will be issued and allotted on 22 September 2021 to eligible shareholders. Allocation of the shortfall Shares will occur at the discretion of the Board in consultation with the Underwriter, CPS Capital Group Pty Ltd and will occur no later than three months from the closing date being 10 December 2021.
This announcement has been authorised for released by the Board of Frontier Resources Limited.
FRONTIER RESOURCES LTD
Matthew Foy Company Secretary