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Pacific Ore Ltd Announces Entitlements Offer


Tuesday, 10 Sep 2013 07:18pm EDT 

Pacific Ore Ltd announced that it will undertake a non-renounceable entitlements offer (Entitlements Offer) to raise up to $2.73 million before costs. The capital raising will enable the Company to continue exploration activities and to pursue new opportunities in the resources sector, and follows a recent cost cutting exercise which has significantly reduced the Company's overhead expenses. Under the Entitlements Offer, shareholders will be entitled to acquire one new ordinary share (New Shares) for every two ordinary shares held at the record date (to be determined) at an issue price of $0.02 per New Share. One free attaching listed option (Listed Options) will also be granted for every three New Shares issued pursuant to the Entitlements Offer. The Listed Options will be exercisable at $0.04 each on or before June 30, 2013. Purpose of the issue is to provide working capital to continue exploration activities and to pursue new opportunities on the resources sector. 

Company Quote

0.012
-0.0010 -7.69%
3 Oct 2014