Base Resources Limited
(ASX:BSE) has announced the completion of the retail component for the 1 for 3.35 renounceable pro rata entitlement offer to raise gross proceeds totalling approximately $10 million at 6 cents per share.
The retail entitlement offer closed on 24 March, with eligible retail shareholders subscribing for approximately 13.5 million new Base Resources ordinary shares, raising gross proceeds of $800,000.
The retail shortfall bookbuild was completed on Wednesday 30 March and was fully subscribed, with subscriptions received for approximately 17.2 million new shares raising gross proceeds of approximately $1 million.
Settlement of the retail entitlement offer is scheduled for Wednesday 6 April with the new shares expected to commence trading on Friday 8 April.
Base Resources recorded a net loss of $11.266 million at 31 December 2015.