Mount Ridley Mines Ltd (ASX: MRD) has announced the results of its pro-rata non-renounceable Entitlement Offer, which closed on Tuesday, 9 September 2025. Mount Ridley is a company focused on the exploration and development of mineral resources. Their primary project is the Mount Ridley project in Western Australia.
The Entitlement Offer sought to raise up to $596,842 by offering one new fully paid ordinary share for every three existing shares held, at an issue price of $0.002 per new share. For every two new shares subscribed, shareholders also received one free attaching option, exercisable at $0.01 each on or before 9 September 2030.
The company reported that it accepted applications for 95,454,664 new shares and 47,727,332 new options under the Entitlement Offer, raising $190,910 before costs. A total of 202,964,641 new shares were not taken up by eligible shareholders and will form a shortfall. The offers were not underwritten.
The new shares under the entitlement offer will be issued to eligible holders today, 16 September 2025. Mount Ridley Mines thanked all eligible securityholders who participated in the Entitlement Offer. An Appendix 2A form will be lodged in connection with the application for quotation of the new shares, and an Appendix 3G form will be lodged for the new options issued under the offers.
