Emu NL (ASX:EMU), a copper and gold explorer focused on developing its portfolio of projects, has announced a non-renounceable pro rata entitlement offer to raise up to approximately $1.83 million before costs. The offer is for eligible shareholders to purchase one new share for every two shares held as of the record date, at an issue price of $0.017 per new share. The offer includes one free attaching new option, exercisable at $0.05 on or before 28 September 2030, for every new share subscribed.
The funds raised from the entitlement offer are earmarked primarily for exploration activities at the Georgetown Project in Northern Queensland, where Emu NL holds an 80% joint venture interest. A smaller portion of the funds will be allocated to the Badja Project in Western Australia. The company has been assessing both development and sale options for the Badja project. The remaining capital will bolster general working capital.
According to the prospectus, new securities issued under this offer will not be entitled to vote at the upcoming general meeting on 29 September 2025, as ordered by the Takeovers Panel. Shareholders are urged to read the prospectus in its entirety and consult with their professional advisors before making a decision, and to consider the risk factors detailed in Section 7.
The offer opens on 11 September 2025 and is scheduled to close on 23 September 2025. The company reserves the right to vary these dates. New shares are expected to be quoted on the ASX on 30 September 2025. The offer is not underwritten. The company is a copper and gold explorer focussed on exploring for and developing and/or monetising discoveries on its current portfolio of projects.
