Askari Metals (ASX:AS2) Announces Options Priority Offer and African Expansion Plans
Options Priority Offer
Askari Metals has lodged a Prospectus with ASIC offering holders of the expired AS2O option series a priority entitlement to subscribe for 2 New Options for every 1 AS2O held as at the record date of 31 October 2024. Each New Option has an exercise price of 2.2 cents and expires on 31 December 2028. Subject to meeting ASX and regulatory requirements, the Company will apply for the New Options’ quotation. The Opening Date of the Offer is 19 May 2025, with the Closing Date on 27 May 2025.
African Expansion
Askari is engaged in due diligence to acquire an advanced brownfields gold exploration project in Ethiopia, aligning with its African-focused corporate strategy. The Company recently completed a placement, ensuring it is well-funded to leverage its African experience and deliver value for shareholders.
Executive Comments
Executive Director Mr Gino D’Anna stated, “The Options Priority Offer enables the Company to engage with the holders of the expired AS2O listed options series in a manner that enables continued participation in the equity upside of the Company. Askari is well positioned to deliver upon its African focused corporate strategy and we are currently engaged in due diligence activities to acquire an advanced brownfields gold exploration project in Ethiopia. With the completion of the recent placement, we are well funded to capitalise and leverage off our African experience to deliver an outstanding value-add opportunity for our shareholders. I look forward to keeping our loyal shareholders updated as we enter an exciting time of growth for Askari.”
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