Thundelarra plans $2.7m rights issue
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Thundelarra Exploration plans to raise up to $2.7 million through a renounceable rights issue with funds raised to progress the evaluation of its suite of projects across Australia.
The West Perth-based company will issue up to 28.47 million shares on the basis of one new share for every four shares held on February 20.
Each share will have an issue price of 9.5 cents, a 21 per cent discount to Thundelarra's last traded price of 12c at 15:45 AEDT today.
One free option will be attached to every three new shares issued.
The company has appointed Patersons Securities as the manager of the issue.
Funds raised will be used towards the ongoing exploration and evaluation of projects in Western Australia, Northern Territory and Queensland, and for working capital.