Business
Central Iron Ore Announces Rights Offering
Sydney, Australia--(Newsfile Corp. - December 15, 2025) - Central Iron Ore Ltd. (TSXV: CIO) (th...
About this update from Central Iron Ore Limited
[{"type":"text","content":"Central Iron Ore Announces Rights OfferingSydney, Australia--(Newsfile Corp. - December 15, 2025) - Central Iron Ore Ltd. (TSXV: CIO) (the \"Company\") is pleased to announce that it will be conducting a rights offering (the \"Rights Offering\") to holders of its ordinary shares at the close of business on the record date of December 23, 2025 (the \"Record Date\").Details of the Rights OfferingRights will be offered on the basis of one (1) right (each, a \"Right\") for each ordinary share of the Company held at the Record Date. Each Right will entitle the holder to subscribe for one unit (each, a \"Unit\") of the Company, upon payment of the subscription price of $0.072 per Unit. No fractional Units will be issued. The holder's Rights entitlement will be reduced to the next lowest whole number and no additional compensation will be paid. Each Unit will be comprised of one ordinary share (each, a \"Share\") in the capital of the Company and one Share purchase warrant (each, a \"Warrant\"). Each Warrant entitles the holder to acquire one Share at an exercise price of $0.12 per Share on or before October 15, 2030. The Warrants will not be listed for trading on any securities exchange; however, the Warrants will be transferable. The Company expects to raise gross proceeds of up to $2,891,213 from the Rights Offering and intends to use the net proceeds of the Rights Offering for contribution to the Company's South Darlot joint venture, drilling at the Company's British King Mine Area, partial repayment of loan to Gullewa Limited, and for corporate and general working capital purposes. The Rights will not be listed for trading on any securities exchange; however, the Company confirms that the Rights will be transferable. All Rights will expire at 5:00 pm (Toronto time) on January 21, 2026 (the \"Expiry Time\"), after which time unexercised Rights will be void and of no value, subject to certain limitations set out in in the Company's rights offering circular December 15, 2025 (the \"Rights Offering Circular\").The Rights Offering will be conducted in all provinces and territories of Canada, Australia, New Zealand or in any other place or jurisdiction in which it is lawful. Certain holders of ordinary shares in jurisdictions outside of Canada may be able to participate in the Rights Offering where they can establish that the transactio...