Riedel Resources Limited (ASX: RIE) has announced the results of its pro rata non-renounceable entitlement offer to eligible shareholders. Riedel Resources is an emerging mineral exploration company focused on advancing the historic high-grade Kingman Gold Project in north-west Arizona, USA. The offer aimed to raise approximately $1.78 million before costs. The entitlement offer was available to shareholders with a registered address in Australia and New Zealand, providing them the opportunity to acquire one new fully paid ordinary share for every two shares held as of 5:00 pm (AWST) on 1 December 2025, at an issue price of $0.025 per new share.
A total of 15,361,303 new shares were taken up under the entitlement offer, raising $384,033. In addition, 55,966,888 shortfall shares are to be placed by the company’s directors, in accordance with the allocation policy outlined in the information booklet released to the ASX on 25 November 2025. This placement will generate an additional $1,399,172.
The board has mandated 708 Capital Pty Ltd to place the shortfall shares pursuant to the entitlement offer. 708 Capital will receive a fee of up to 6% of the gross proceeds raised and 5 million unlisted options exercisable at $0.06 on or before 30 October 2028 at an issue price of $0.00001 per option.
The company has issued the 15,361,303 new shares on Monday, 22 December 2025, aligning with the indicative timetable for the entitlement offer. This release has been authorised by the Board of Riedel Resources Limited.
