Smart Trade Insights
  • Business
  • Economy
  • Investing
  • Politics
Top Posts
CuFe Limited
Pacgold
Halcones Precious Metals Announces AGM Results
Lithium Universe LtdCompletes PV Solar Cell Recycling Acquisition
Completion of PV Solar Cell Recycling Acquisition
Lac Carheil MRE to Benefit from Exceptional Assay...
Project Update – Optimisation Underway Halleck Creek
3 Best-performing Canadian Cleantech Stocks of 2025
Trump says it’s ‘highly unlikely’ he will fire...
Rich Checkan: Gold, Silver Still “Dirt Cheap” —...
  • Business
  • Economy
  • Investing
  • Politics

Smart Trade Insights

Investing

Launch of $4M Accelerated Partially Underwritten Entitlement Offer

by admin November 4, 2024
November 4, 2024
Launch of $4M Accelerated Partially Underwritten Entitlement Offer

Blackstone Minerals Limited (“Blackstone” or the “Company”) is pleased to announce that it is undertaking a partially underwritten accelerated non-renounceable pro rata entitlement offer of new fully paid ordinary shares in the Company (“Shares”) on the basis of one (1) new Share (“New Shares”) for every four (4) existing Shares held, to raise up to approximately A$4 million (before costs) (“Entitlement Offer” or “Offer”).

HIGHLIGHTS

  • Blackstone undertaking an accelerated non-renounceable pro rata entitlement offer to raise up to approximately A$4 million.
  • Partially underwritten by supportive long term shareholder, Nanjia Capital with $1.65 million firm commitment and underwriting which includes an approximate $1.1m retail underwriting component.
  • Opportunity for our existing shareholders to participate in the capital raising on the same terms as the institutional shareholders.

Blackstone Minerals’ Managing Director, Scott Williamson, commented:

“On behalf of the Board and Management team, I would like to thank Nanjia Capital for their ongoing support. We look forward to making further progress on our Manitoba Consolidation Strategy as we finalize the TKR Refinery DFS and complete the joint venture partnering process..”

The Entitlement Offer is supported by major shareholder Nanjia Capital Limited and controlled entities with a firm commitment to subscribe for entitlements under the Institutional Entitlement Offer up to approximately $550k and an agreement to underwrite the Retail Entitlement Offer up to approximately $1.1m (i.e. for a total investment of approximately A$1.65 million).

The Entitlement Offer will comprise the issue of up to approximately 132,714,967 New Shares at an offer price of A$0.03 per New Share (“Offer Price”), which represents a 12% discount to the last traded price of A$0.034 on 30 October 2024 and 5-day volume weighted average price.

The Entitlement Offer comprises:

  • an accelerated institutional component open to eligible institutional shareholder to be conducted from Monday, 4 November 2024 to Tuesday 5 November 2024 (“Institutional Entitlement Offer” or “Institutional Offer”); and
  • a retail component open to eligible retail shareholders anticipated to be conducted from Monday, 11 November 2024 to Friday, 29 November 2024 (unless extended) (“Retail Entitlement Offer” or “Retail Offer”).

The offer ratio and Offer Price for New Shares under the Retail Entitlement Offer are the same as for the Institutional Entitlement Offer.

Details of Entitlement Offer

Under the Entitlement Offer, eligible shareholders are invited to subscribe for one (1) New Share for every four (4) existing Shares held.

The right to subscribe for New Shares under the Entitlement Offer will be non-renounceable (meaning the entitlements to New Shares will not be tradable on ASX or otherwise able to be sold or transferred). If you do not take up your entitlement in full, you will not receive any value in respect of that part of the entitlement you do not take up.

All New Shares issued under the Entitlement Offer will rank equally with the existing Shares on issue. The Company will apply for quotation of the New Shares issued under the Entitlement Offer.

Westar Capital Limited have been appointed as lead manager to the Entitlement Offer (“Lead Manager”).

Conditions of the Entitlement Offer are detailed in the Prospectus (defined below) released on the ASX platform today and the accompanying Appendix 3B to this announcement.

Institutional Entitlement Offer

Institutional shareholders with a registered address in Australia, New Zealand, Bermuda, British Virgin Islands, Brunei, Canada (British Columbia), Singapore, Germany, Hong Kong, Isle of Man, Thailand, Vietnam or the United Kingdom (“Eligible Institutional Shareholders”) will be invited to participate in the Institutional Entitlement Offer on the terms and conditions set out in the Prospectus (defined below).

The Institutional Entitlement Offer opens at 9.00am (AWST) on Monday, 4 November 2024 and will close at 5:00pm (AWST) on Tuesday 5 November 2024.

Eligible Institutional Shareholders can choose to take up all, or part or none of their Entitlement under the Institutional Entitlement Offer.

Eligible Institutional Shareholders may also apply for New Shares in addition to their entitlement at the Offer Price, to the extent there is any shortfall under the Institutional Entitlement Offer. The remaining shortfall will be offered on the same terms and conditions as the Entitlement Offer.

The Company’s Shares will remain in a trading halt pending completion of the Institutional Entitlement Offer. It is expected that the trading halt will end at market open on Wednesday, 6 November 2024.

Click here for the full ASX Release

This post appeared first on investingnews.com

previous post
Key Mining Approval Received for Fountain Head Gold Project, NT
next post
Binding Agreement to Acquire 2D Generation

You may also like

FY24 R&D Refund Advance Received to Accelerate Pilot...

September 7, 2024

Gold and Silver Prices Steady as CPI Sheds...

September 12, 2024

Altech – Cerenergy® Battery Project Funding Update

November 22, 2024

Silver Reserves: Top 5 Countries

May 29, 2025

Allup Strengthens its Board with Mine and Finance...

August 16, 2024

BPH Energy LimitedPEP11 Update Federal Court Judicial Review

February 13, 2025

Noble Mineral highlights Successful Exploration Results announced by...

March 14, 2025

Silver Price 2024 Year-End Review

December 18, 2024

RETRANSMISSION: LaFleur Minerals to Restart Gold Milling at...

March 4, 2025

Update – Blackstone Merger to Acquire Copper Gold...

May 7, 2025

    Fill Out & Get More Relevant News


    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • CuFe Limited

      July 18, 2025
    • Pacgold

      July 18, 2025
    • Halcones Precious Metals Announces AGM Results

      July 18, 2025
    • Lithium Universe LtdCompletes PV Solar Cell Recycling Acquisition

      July 18, 2025
    • Completion of PV Solar Cell Recycling Acquisition

      July 18, 2025
    Promotion Image

    banner ads

    Categories

    • Business (769)
    • Economy (829)
    • Investing (2,440)
    • Politics (737)
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: smarttradeinsights.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2025 smarttradeinsights.com | All Rights Reserved