Carbine Resources Limited (ASX: CRB) has successfully completed its pro-rata non-renounceable entitlement offer, raising a total of $1,780,384 before costs. The offer, detailed in the company’s prospectus dated May 21, 2025, closed on June 11, 2025. Eligible shareholders were offered two new shares for every three held at a price of $0.003 per share. Acceptances from eligible shareholders amounted to $264,503, covering 88,167,632 shares.
The company also secured commitments to place the entirety of the shortfall, along with additional new shares, at the same offer price. This placement generated an additional $1,515,881. Specifically, the shortfall placement accounted for $837,727 (279,242,449 shares), while the additional placement of new shares contributed $678,154 (226,051,197 shares).
Carbine Resources will proceed with issuing and allotting shares from accepted entitlements and the shortfall placement immediately. The additional placement of new shares will be executed in two tranches. The first tranche, comprising 81,015,197 shares, will be issued today using the company’s existing placement capacity under Listing Rule 7.1. The second tranche, consisting of 145,000,000 shares, is earmarked for sophisticated and professional investors, including related parties of the company. This second tranche is contingent upon shareholder approval, and a general meeting will be convened in early August to seek this approval.
All newly issued shares will rank equally with existing ordinary fully paid shares. This capital injection is expected to bolster Carbine Resources’ financial position and support its ongoing projects and strategic initiatives. The company’s board has authorized the release of this announcement.
