Oceana Lithium (ASX:OCN) has completed its two-for-three pro rata non-renounceable entitlement offer, of which each of the directors participated.
The funds raised, coupled with the company’s cash balance of $1.77 million, will help fund exploration across its project portfolio in Australia and Brazil, as well as for due diligence on potential project opportunities.
Westar Capital acted as lead manager and underwriter to the entitlements offer.
Settlement for the new shares to be issued to the underwriters will take place on or about 17 December 2024.
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Images: Oceana
