Arizona Lithium (ASX:AZL) disclosed plans to raise AU$2 million via a share purchase plan to advance the Prairie project in Saskatchewan, Canada, according to a Wednesday filing with the Australian bourse.
Eligible shareholders may purchase up to AU$30,000 worth of fully paid ordinary shares at AU$0.006 each. The offer has two free attaching options for every three shares purchased, exercisable at AU$0.012 and expiring three years from issuance.
The shares and options are subject to shareholder approval. The issue price is a discount of 33% to the five-day volume-weighted average price of the company's shares.
The company said it decided to abandon an earlier sophisticated investor placement "because the offering was not reflective of what the board considers to be in the best interest of shareholders," per the filing.
The company's shares tumbled past 22% in recent Wednesday trade after hitting a 52-week low earlier in the day.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。