Pure Resources Limited (ASX:PR1) ('Company') is pleased to announce it has completed the pro-rata non-renounceable entitlement issue to eligible shareholders on the basis of one (1) share for every twelve-point-one-four (12.14) ('New Shares'), together with 1 free attaching listed option exercisable at $0.25 and expiring 10 April 2025 ('New Options') ('Rights Issue').
The Rights Issue is detailed in the Prospectus dated 2 August 2024 and announced to the Australian Securities Exchange ('ASX'). The Rights Issue closed Thursday, 22 August 2024, with the Company receiving valid applications for 1,405,424 New Shares and 1,405,424 New Options, raising a total of $140,542.40 (before costs) under the Offer. An Appendix 2A will be lodged today for the quotation of the New Shares and the New Options (which have the same terms and the 'PR1OA' quoted options currently on issue). A total of 2,095,860 New Shares and 2,095,860 New Options ('Shortfall Securities') are available under the shortfall placement and will be placed at the discretion of the Board.
Subject to the Corporations Act and Listing Rules the Directors reserve the right to place the Shortfall Securities at their discretion within three months from 22 August 2024. Any excess application monies that have been advanced to the Company with respect to an application for the Rights Issue that was not accepted, will be refunded by the Company as soon as practicable. The Board of the Company would like to express appreciation to participating shareholders for their ongoing support of the Company.
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