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Charter Pacific Corporation Ltd Announces Pro Rata Renounceable Rights Issue


Thursday, 18 Jul 2013 07:21pm EDT 

Charter Pacific Corporation Ltd announced that it has resolved to raise up to approximately AUD3.29 million to fund its Mauritanian resources investment including; trenching, drilling exploration programs, and working capital. The capital raising comprises a two for three Pro Rata Renounceable Rights Issue of approximately 82.2 million fully paid ordinary shares in the Company at an issue price of AUD0.04 to raise approximately AUD3.29 million (Rights Issue). Charter Pacific is providing shareholders with an opportunity to participate in a renounceable rights issue. The rights issue will raise up to AUD3.29 million on the basis of two ordinary fully paid shares for each three existing fully paid ordinary shares in the Company, held on the Record Date, at a price of AUD0.04 each. Part of the funds will be directed towards the Mauritanian iron ore exploration program currently underway. 

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