West Perth-based uranium mining company U3O8 Ltd has launched a non-renounceable entitlements issue to investors, aiming to raise over $300,000 for exploration and development costs.
West Perth-based uranium mining company U3O8 Ltd has launched a non-renounceable entitlements issue to investors, aiming to raise over $300,000 for exploration and development costs.
The company will issue 32.9 million options at one cent each to raise the money, with the options set to expire on June 30 2009, and exercisable at 25c to ordinary shares.
Options will be issued on a basis of one option for every two shares held.
The offer is not underwritten and no oversubscriptions will be accepted.
The offer opened this morning at 9 AM and will close at 5 PM on November 22.
Subscribe today for award-winning, unbiased and trusted journalism