Flynn Gold Limited (ASX: FG1) has announced the successful completion of its renounceable rights issue, which closed on 28 October 2026. The Australian mineral exploration company, focused on a portfolio of gold, tin, tungsten, silver, lead, and zinc projects across Tasmania, secured A$1.5 million before costs through the capital raising. Flynn Gold expressed gratitude to participating shareholders for their support, particularly acknowledging the challenging market conditions, and extended a welcome to new investors joining its register.
As a result of the rights issue, Flynn Gold will issue 99,999,998 new fully paid ordinary shares. Additionally, 50,000,032 new options, exercisable at A$0.03 with a 30-month term, are expected to be quoted on the ASX shortly. The announcement highlighted that the company’s directors participated in the rights issue, demonstrating their strong commitment to and confidence in Flynn Gold’s projects and future prospects. Mahe Capital Pty Ltd served as the Lead Manager and Underwriter for the capital raising, and will receive an additional 2,114,059 options.
The net proceeds from this successful capital raise are earmarked for key project advancements. Funds will be directed towards progressing the mineral resource estimate for the Firetower Gold-Tungsten Project. Furthermore, the company plans to continue its resource definition activities at the Golden Ridge Project, both located in Northeast Tasmania. The new securities are anticipated to be issued on Wednesday, 28 October 2026, in line with the timetable set out in the supplementary prospectus.
