Palace to raise $400k through options issue
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Thursday, 8 March, 2007 - 11:43
West Perth-based uranium explorer Palace Resources Ltd has announced plans to raise around $400,000 through an options issue to raise funds for development of exploration projects in Western Australia and the Northern Territory.
The company will issue 34,630,390 options to shareholders at an issue price of one cent per Option, exercisable at 20 cents on the basis of three options for every four shares held. It will make a further public offer of 6 million options at the same price.
The offer wil close on March 22.