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Canyon Resources Ltd announces entitlement issue prospectus


Monday, 23 Dec 2013 10:58pm EST 

Canyon Resources Ltd:Says the offer is being made as a non-renounceable entitlement issue of one share for every two shares held by shareholders registered at the record date at an issue price of A$0.045 per share (together with one new option for every one share subscribed for and issued).Says the offer price of A$0.045 reflects a discount of 25 pct to the last trading price of Shares on ASX.Says the offer is not underwritten.Says the purpose of the offer is to raise up to A$1,608,907.Says no funds will be raised from the issue of the new options.Says funds raised from the Offer are planned to be used for expenses of the offer, payment of deposit under farmin and joint venture agreement, exploration on cameroon projects under farmin and joint venture agreement, exploration on Burkina Faso projects and working capital. 

Company Quote

0.053
-0.0020 -3.64%
28 Aug 2014