Flynn Gold’s (ASX:FG1) share purchase plan (SPP) to raise $600,000 is now open.
As previously reported, the $6.99 million market capitalisation company is conducting a SPP via the issue of 10 million fully paid ordinary shares at $0.06 per new share.
This SPP will support Flynn Gold funding the acquisition of 2 exploration licences prospective for lithium in Western Australia.
Eligible shareholders will be able to subscribe for up to $30,000 worth of new fully paid ordinary shares in Flynn Gold without incurring any brokerage or other transaction costs.
Following the announcement of the SPP’s opening, Flynn Gold’s share price had spiked 14.58% to $0.055 as of 12:15pm AEDT today (18 December).
The SPP offer is expected to close at 5pm AEDT on 22 January 2024.
Flynn Gold is an Australian-based mineral explorer focused on targeting gold and battery metals in under-explored areas of Tasmania and Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Flynn Gold