Lucapa to raise about $5.25m
ASX-listed Lucapa Diamond Company plans to undertake a nonrenounceable rights issue on a 1 for 5 basis with a free attaching options exercisable at $0.10 each and expiring two years from the date of issue.
If fully subscribed, the intended rights issue will raise up to $5.25-million.
The funds will be used to advance the search for the primary kimberlite sources of the high-value Lulo mine alluvial diamonds, preserve mining assets suspended owing to the Covid-19 pandemic, and for general working capital purposes.
Lucapa’s directors intend to take up their full entitlements under the rights issue. The offer will not be underwritten.
The offer will only be made to shareholders of the company who are registered as shareholders on the record date with registered addresses in Australia, New Zealand, the UK, Singapore, Hong Kong or Germany.
Shareholders with registered addresses outside of these countries are considered ineligible shareholders and cannot participate in the offer.
Lucapa intends to lodge a prospectus in connection with the intended rights issue with the Australian Securities and Investments Commission and ASX, on or about May 1.
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