Leederville-based investments company Consolidated Global Investments Ltd has announced plans to raise $1.2 million through a share and options issue to raise funds for exploration of gold and nickel tenements in Leonora and Laverton.
The company will issue 6 million shares at 20 cents each, as well as a free attaching option with every share issued, exerciseable at 20 cents on or before January 31 2010.
Consolidated will seek to have its securities re-admitted to official quotation through the deal, after trade in the company's shares was suspended in May 2003.
At the time, the company provided voice telecommunication services across a number of countries through its overseas subsidiaries, with the operations being wound up in early 2004.
Consolidated subsidiary Mount Resources Ltd has secured agreements to acquire an 85 per cent interest in the six tenements from a group of explorers including Bruce Legendre.
The company aims to raise a minimum of $600,000 and oversubscriptions will not be accepted. John Palermo, Leigh Coleman and Paul Ingram all sit on the Consolidated board.
RSM Bird Cameron and Partners are acting as auditor and investgating accountant to Consolidated, with Blakiston & Crabb providing the company with legal advice.
The offer will close on March 30.
