Ann: $6m in funding to accelerate Pilbara lithium projects, page-9

This part I really liked, in effect they cancelled issue of 212 million shares at 0.003 or .3 of 1 cent, and instead of the issued 272million at 2.2c.

Yeh I would have preferred 3.2c , but this is a good compromise, overall solid effort by management.



"Raiden conducted an Entitlements Issue to existing shareholders in April 2023 at an issue price of $0.003 per Share, which raised ~$600k and left a shortfall of 212,959,141 shortfall shares ~639k. In accordance with the Corporations Act 2001 (Cth) and the ASX Listing Rules, the Directors reserved the right to place these shares within 3 months of the closing date of 1 June 2023. However, having regard to the Company’s recent increase in share price and funds raised from the Placement, the Directors have resolved that issuing the shortfall shares at the Entitlements Issue price would not be in the best interests of shareholders, so the Company is pleased to advise that the shortfall will be allowed to lapse. The resultant outcome of the capital raising and not issuing the shortfall entitlement shares, means that the Company has managed to raise approx. 10 times the funding for nearly the same dilution. These funds should now allow Raiden to accelerate activity across its projects."