Antipa Minerals Ltd (ASX:AZY) MD Roger Mason tells Proactive the company has launched a $2 million pro-rata non-renounceable rights issue to eligible shareholders, taking the recent capital initiatives to a total of up to $7 million. Proceeds from the placement and rights issue are to be predominantly applied to ongoing exploration and appraisal of resource growth and discovery opportunities at the companys 100%-owned Minyari Dome Project. The company will undertake the rights issue on a one-for-26 basis to raise up to $2 million, at an issue price of $0.013 per share.
Mason said: The rights Issue announced today provides all shareholders with the opportunity to further participate in Antipas vast Paterson Province portfolio, including our compelling 100%-owned Minyari Dome Gold Project.
Funds raised through the placement and rights Issue will allow our exploration team to fast-track the aggressive resource growth and discovery-orientated drilling activities we have planned at the new GEO-01 discovery and at the exciting Tetris and Pacman targets.
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Antipa Minerals Ltd