Magnetite Mines Launches Rights Issue and Options Offer

Magnetite Mines Limited (AU:MGT) has released an update.

Magnetite Mines Limited has launched a 1 for 5 renounceable rights issue to raise $4.1 million, with the offer including 1:1 options with a theoretical valuation based on the Black-Scholes model. The rights issue is now open to eligible shareholders with registered addresses in Australia or New Zealand, and the rights can be traded on the ASX. Investors are advised to review the Prospectus for detailed information and to apply as soon as possible.

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