Lanthanein Resources Limited Secures Fully Underwritten $275K Placement & $2.1M Rights Offer, Paving the Way for Strategic Growth and Rebranding as Fortuna Metals Ltd

Thursday, June 5, 2025
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9:43 am
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Lanthanein Resources Limited announces a fully underwritten capital raise through a share placement and rights offer, targeting exploration and growth. The company also proposes a name change to Fortuna Metals Ltd and a share consolidation to streamline its capital structure and attract increased investor interest.

Lanthanein Resources Limited announced on 5 June 2025 a multi-faceted capital raising program designed to boost exploration activities and optimize its capital structure. The company has secured firm commitments to raise approximately $275,000 (before costs) through a placement of around 366.5 million shares priced at $0.00075 each. These funds will be channeled primarily into advancing exploration at the Lyons and Edmund Projects in the Gascoyne region of Western Australia, in addition to identifying new acquisitions and providing working capital. Inyati Capital Pty Ltd, acting as the lead manager, will earn a 6% fee on the placement funds and receive additional options with specified exercise prices and expiries. In tandem with the placement, Lanthanein Resources Limited is offering eligible Australian and New Zealand shareholders a non-renounceable pro-rata rights issue to raise up to approximately $2.1 million (before costs). Under this entitlement, shareholders will be offered three new shares for every four shares held at an issue price of $0.001 per share, accompanied by one free-attaching share for every three subscribed, effectively pricing the new shares at $0.00075 each. The rights offer, which is also fully underwritten by Inyati Capital, includes further option arrangements and a sub-underwriting commitment by the Non-Executive Chairman up to a maximum of $257,000. The prospectus, detailing these arrangements and the registration of eligible shareholders, will be issued after lodgement with the relevant regulatory bodies. Additionally, the company is seeking shareholder approval for significant structural changes including a proposed change in name to Fortuna Metals Ltd and a consolidation of its issued capital at a ratio of 30:1. Should these proposals receive the green light at the general meeting scheduled for July 2025, all existing options and performance rights will be adjusted accordingly to reflect the new share structure. The consolidation aims to create a more effective capital framework that could foster growth and enhance investor appeal. An indicative timetable has been provided, outlining key dates from early June through late August 2025 for the various stages of the placement, rights issue, and consolidation process. Market sentiment on the announcement is mixed. From a bullish perspective, the capital raising is seen as a strategic move that underpins the company’s exploration and growth initiatives, with the involvement of professional investors and strong underwriting support enhancing confidence in these plans. Conversely, cautious investors may view the share dilution and the restructuring process as potential short-term risks that could impact liquidity and lead to price volatility. As the company implements these initiatives, both the positive potential for long-term growth and the short-term uncertainties will be key factors for traders to monitor.

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