Flinders Mines Limited (ASX:FMS) (Flinders) is pleased to announce a non-renounceable entitlement offer (Entitlement Offer or Offer) at A$0.017 (1.7 cents) per share to raise approximately A$5 million.
The Entitlement Offer will be an offer of approximately 295 million new fully paid ordinary shares in the Company (New Shares) on the basis of 1 New Share for every 10 existing shares held by eligible shareholders on the Record Date (Entitlement). The offer price is a discount of approximately 32% to the 30-day volume weighted average price of Flinders shares on the ASX for the period ending 30 September 2016.
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