McLaren Minerals Limited (ASX: MML), an Australian exploration company focused on discovering and developing economic mineral deposits, has announced a non-renounceable pro-rata entitlement offer to raise up to approximately $3.6 million before costs. The offer is available to eligible shareholders, providing them the opportunity to purchase one new share for every one share held on the record date, at an issue price of $0.018 per share. The record date for determining entitlements is 5:00 pm AWST on Friday, 7 November 2025.
As part of the entitlement offer, participating shareholders will also receive two free-attaching options for every two new shares subscribed, comprising one short-term option and one long-term option. The short-term options are unquoted and exercisable at $0.0224, expiring 15 months from the issue date, while the long-term options are quoted and exercisable at $0.035, expiring on 5 February 2028. The entitlement offer is fully underwritten by Leeuwin Wealth Pty Ltd. Eligible shareholders can also apply for additional new securities under a top-up facility.
The funds raised through the entitlement offer will be primarily used for drilling, exploration assays and analysis, metallurgical test work, engineering and design, environmental studies and approvals, infrastructure development, water bores and testing, mining studies, and general working capital. The company reserves the right to extend the closing date, currently scheduled for 5:00 pm AWST on Wednesday, 3 December 2025, subject to regulatory requirements and the underwriting agreement.
The prospectus, which contains detailed information about the offer and McLaren Minerals, is available on the company’s website and at their Perth office. Shareholders are encouraged to read the prospectus carefully and seek professional advice before making an investment decision. The securities offered are considered speculative, and investors should consider the risk factors outlined in the prospectus.
