Centillion: Proposing a 1 for 1 rights cum warrants issue to raise $25.4m. It will issue up to 8.5b rights share at 0.1c each with 1 warrant attached to each rights share at 0.2c per warrant share. A total max of $25.4m will be raised and 60% of proceeds will be used for expanding the business with remainding 40% for general working capital. Approval for this issue will be sought through a EGM for shareholders.
Co’s shares last traded price was at $0.002 or 0.2c. Co’s currently has 8.3b shares outstanding. Note that, Centillion has posted losses for 3 consecutive yrs.
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