Cullen Resources Launches Discounted Rights Issue

Cullen Resources Limited (AU:CUL) has released an update.

Cullen Resources Limited is set to raise up to $1,140,346 through a non-renounceable rights issue, offering new shares at a 25% discount to its last trading price, aimed at funding their gold, lithium, base metals, and Ni-Cu-PGE exploration projects across various sites. Shareholders in Australia and New Zealand can subscribe to the one-for-three offer, with the directors also participating, although the issue is not underwritten and there’s no guarantee on additional share allotments.

For further insights into AU:CUL stock, check out TipRanks’ Stock Analysis page.