Emu NL (ASX: EMU), a mineral exploration company focused on discovering and developing economic mineral deposits, has announced a pro-rata non-renounceable rights issue to raise approximately $3.66 million before costs. The offer involves issuing approximately 146,610,377 fully paid ordinary shares to eligible shareholders on the basis of one new share for every two shares held as of 5:00 PM (WST) on Monday, 30 March 2026 (the Record Date). Each new share will also come with one free attaching option, exercisable at $0.03 each on or before 31 January 2027.
The company is also offering eligible shareholders and other investors the opportunity to apply for additional shares comprising Shortfall Shares arising as a consequence of any FPO Shares not being applied for and issued as of Entitlement (Shortfall Offer); and an offer of 30,000,000 Lead Broker Options (on the same terms as the New Options) to the Lead Broker (or its nominees) (Lead Broker Options Offer). Shortfall Shares will be allocated by the Directors in priority to Eligible Shareholders, subject to overriding Board discretion (including as to scale backs) and an Eligible Shareholder’s Voting Power not increasing above 10% as a result.
The funds raised from the offer are earmarked for exploration on the company’s projects, including drilling mineral exploration targets and potential acquisition of further prospects ($2.6 million), working capital ($793,677), and covering the expenses of the offer ($271,582). Martin Place Securities Pty Ltd has been appointed as lead broker for the offer, which is not underwritten, and Lazarus Advisory has been appointed as Advisor to the Offer.
The offer opens on 2 April 2026 and closes at 5:00 PM (WST) on 16 April 2026, unless extended or withdrawn. Eligible shareholders with a registered address in Australia or New Zealand as of the Record Date are invited to participate. The company will only accept payments made via BPAY or EFT, supported by an email address for communication.
