From the fin review. Not sure about the 20 cent bonus option date. I’m assuming June 23, 2022???
Another explorer, Anson Resources, was also in the market raising capital on Friday.
The miner is raising $7.35 million, and it is priced at 9.1¢ per share.
The company’s flagship asset is its Paradox Basin Brine Project in southern Utah. It is targeting lithium chemicals, bromine, iodine and boron.
Anson has already signed a memorandum of understanding with TETRA Technologies regarding collaboration on the project’s development and an offtake agreement. Where possible, the pair will also explore strategic investments.
Evolution Capital Advisors is on board for the raising.
Rather than doing a share purchase plan for retail investors, the company is also conducting an unusual bonus issue of options at the same price to all existing shareholders.
The bonus issue will issue one option for every 10 shares held as of September 24 and will expire on October 29.
Upon exercising these options, the shareholders will also receive another bonus option, exercisable at 20¢ and expiring on June 23.
The bonus options have been designed to guarantee existing retail shareholders fair access to additional shares.
