Alderan Resources Ltd. (AU:AL8) has released an update.
Alderan Resources Ltd. successfully raised $1.27 million through a rights issue, with significant participation from existing shareholders and company directors who demonstrated their confidence by fully subscribing to their entitlements. The funds are earmarked for exploration of the company’s metal projects in the USA and Brazil, and for general working capital. The newly issued shares and options are scheduled to be allocated to investors as per the prospectus timeline.
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