Cauldron Energy Limited (AU:CXU) has released an update.
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Cauldron Energy Limited announces a rights issue aiming to raise $2,024,232 by offering shareholders the opportunity to purchase additional shares and options, with the funds earmarked for advancing their Yanrey Uranium project, sustaining current projects, exploring new opportunities, and general working capital. The offer, underwritten by Canaccord Genuity (Australia) Limited, entails one new share for every eleven held at $0.018 each, plus one free option for every four shares subscribed, exercisable at $0.015 until December 2025. Notably, shareholders outside of Australia, New Zealand, Singapore, Hong Kong, and the UK are ineligible to participate due to regulatory and cost considerations.
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