Catalina Resources Ltd (ASX:CTN) announced the results of its non-renounceable pro-rata entitlement offer, which closed on April 8, 2025. The company sought to raise approximately $2.27 million through the offer, issuing one new share for every two shares held by eligible shareholders at $0.003 per share, with one free attaching share for every five new shares subscribed. This brought the effective cost closer to $0.0025 per new share. The offer was available to eligible shareholders in Australia, New Zealand, Singapore, and China.
The company accepted applications for 122,914,708 new shares and 24,582,948 free attaching shares under the entitlement offer. Of the 759,000,000 shares available, shareholders applied for 121,231,541 shares with 24,246,315 attaching shares, raising $363,694.62. Oversubscriptions accounted for an additional 1,683,167 shares with 336,633 attaching shares, generating $5,049.50. In total, the entitlement offer raised $368,744.12, leaving a shortfall of 636,085,292 shares, equal to $1,908,255.88.
Catalina Resources has engaged Pareto Capital to place the remaining new shares available under the shortfall offer. The company expects the combined Entitlement Offer and Shortfall Offer to raise the maximum targeted amount of $2.277 million. The issue of the 122,914,708 New Shares and 24,582,948 free attaching shares from the initial Entitlement Offer occurred on April 15, 2025. An Appendix 2A will be lodged to apply for quotation of the newly issued shares and attaching shares.
Catalina Resources focuses on mineral exploration and mine development, targeting gold, base metals, lithium, and iron ore projects.
