Megado Minerals Limited (ASX: MEG) announced that it has successfully agreed to acquire an 80% interest in Iberian Copper Pty Ltd as part of a strategic move to enhance its portfolio. ICPL owns a 100% stake in Iberian Copper SL and is responsible for the promising Iberian Copper Project. This transaction will involve the issuance of securities, pending essential shareholder approval.
In conjunction with this acquisition, the Company is rolling out a non-renounceable pro-rata rights issue, offering one fully paid ordinary Share for every two Shares held at an attractive price of 1.2 cents per Share. Furthermore, Megado has secured substantial commitments to place 50 million shares at 1.2 cents per Share, structured in two tranches. The initial tranche will comprise 38 million Shares issued under the Company’s available capacity by Listing Rule 7.1, with an additional 12 million Shares to follow, contingent upon shareholder support.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
