Cavalier Resources Plans $1.7M Capital Raise

Cavalier Resources Limited (AU:CVR) has released an update.

Cavalier Resources Limited aims to raise $1.7 million through a 1-for-3 non-renounceable rights issue priced at 12 cents per share, a 14.3% discount to its last traded price. The funding is directed towards advancing the Crawford Gold Project towards production, drilling at Ella’s Rock Li-Au-Ni Project, and for general capital purposes. Eligible shareholders in Australia and New Zealand can participate and apply for additional shares through a shortfall facility.

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