Lepidico is pleased to advise that the Renounceable Entitlements Offer announced on 3 September 2018 has been well supported by the Company’s shareholders and new investors and closed significantly oversubscribed. The Company has raised $7.9 million and will issue 417,877,158 new shares and 208,938,579 new options in accordance with the Offer timetable. The new options will be listed under the ASX code LPDOA. Due to overwhelming demand, the Company has agreed to place a further 13,157,894 fully paid ordinary shares at $0.019 with 6,578,947 attaching LPDOA options to raise an additional $250,000. Shareholder approval is not required for the Placement, which will be made using the Company’s existing capacity under Listing Rule 7.1. Funds from the Placement will be used to supplement working capital.
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