Sunstone Metals Limited (AU:STM) has released an update.
Sunstone Metals Limited has announced a non-renounceable pro-rata entitlement offer to raise approximately $4.28 million by offering new shares to eligible shareholders from Australia or New Zealand. Shareholders can subscribe to one new share for every nine they own at $0.011 each, with a record date for eligibility set on May 9, 2024. The company is also exploring a potential acquisition of a business consistent with its focus on gold and copper exploration and development, though this is still in the due diligence phase with no guaranteed outcome.
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