Mineral Commodities (ASX:MRC) has extended the closing date of the retail offer of its $15 million capital raise by a week from 16 November to 23 November 2023.
The company now expects the results of the pro-rata non-renounceable entitlement offer to be released on 30 November.
Mineral Commodities on 26 October announced it was raising the funds via the issue of about 501.1 million new ordinary shares at $0.03 per new share.
The entitlement offer is being conducted through an accelerated institutional entitlement component and a retail entitlement component. The retail offer includes a top-up facility for existing eligible shareholders to apply for additional securities in excess of their entitlement.
Taylor Collison is acting as lead arranger to the offer and Bacchus Capital Advisers are financial advisor.
Mineral Commodities is a global mining and development company with a primary focus on the production of high-grade mineral sands and natural flake graphite from operations in South Africa and Norway.
Write to Adam Orlando at Mining.com.au
Images: Mineral Commodities