Corella Resources Completes Underwritten Rights Issue

Corella Resources Ltd (ASX:CR9) has successfully completed its fully underwritten non-renounceable rights issue, raising a total of $935,487 before costs. The offer, announced on March 12, 2025, comprised one new share for every existing share held on the record date of March 19, 2025, priced at $0.002. Each new share also included one free attaching option, exercisable at $0.002 and expiring three years from the issue date. Existing shareholders subscribed for 167,163,883 new shares and 167,168,883 new options, generating $334,328. These new shares and options will be allotted and issued today, and the shares will rank equally with existing ordinary shares. A shortfall arose in the initial take-up, and CPS Capital Group Pty Ltd (CPS), the underwriter, has been notified. According to the underwriting agreement, CPS will apply for the shortfall shares by April 15, 2025. This will result in the issuance of an additional 300,579,550 new shares and 300,579,550 new options, raising a further $601,159 before costs. The successful completion of this rights issue provides Corella Resources with additional capital to advance its projects and strategic objectives.