Verity Resources Limited (ASX: VRL), a company focused on gold and critical metals exploration with projects in Australia and Botswana, has announced a non-renounceable pro-rata entitlement offer to raise approximately $2.0 million before costs. The offer, detailed in a prospectus expected to be lodged with ASIC around February 11, 2026, aims to bolster the advancement of its Monument Gold and Botswana copper-silver projects.
The entitlement offer will provide eligible shareholders the opportunity to subscribe for one new share for every five shares held, priced at $0.025 per share. Each new share will also include one free attaching option, exercisable at $0.036 and expiring five years from the issue date. Directors of Verity Resources are participating in the offer and have committed to partially underwriting up to approximately $598,333 of any shortfall, signalling their confidence in the company’s strategic direction.
The funds raised will be allocated to several key initiatives. These include progressing development studies and mine planning at the Monument Gold Project following the upcoming mineral resource estimate update, advancing the high-grade copper-silver projects in Botswana, and covering the costs associated with the entitlement offer, along with general working capital. The entitlement offer is expected to open on February 20, 2026, and close on March 4, 2026.
The company is partially underwritten by two of the Company’s directors. A summary of the key termination events under the underwriting arrangements is set out in Annexure 1 of the original announcement.
