Increasing our Investment through GTR's rights issue

Published 20-MAR-2023 13:12 P.M.

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Shares Held: 16,662,000

Options Held: 746,615

Our U.S uranium exploration Investment GTI Energy (ASX: GTR) recently raised $2.34M via a placement to fund the development and exploration of its Wyoming uranium projects.

The placement shares were issued at 0.9c per share and came with 1:2 free listed options, exercisable at 3c per share (expiring on 20 October 2024).

Following the capital raise GTR announced a rights issue to raise another $1.3M on the same terms as the placement. Given that the rights issue is fully underwritten GTR should receive the full $1.3M.

The rights issue means existing GTR shareholders have the right to acquire 1 new GTR share at 0.9c per share for every 10 shares owned.

We will be topping up our Investment in GTR by taking up our full entitlement in the rights issue.

The key timetable for the offer is as follows:

Ex-date (22 March 2023) - shares purchased on or before the 21st of March will be given an entitlement in the rights issue.
Closing Date (21 April 2023) - the due date for the rights issue applications.
Results of rights issue (28 April 2023) - we should know how much GTR raised from the rights issue.
Quotation of new shares (1 May 2023) - when the share from the rights issue are expected to be listed.