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BRIEF-Energy Resources Of Australia Announces $476 Mln Renounceable Entitlement Offer

Published 15/11/2019, 09:52 am
BRIEF-Energy Resources Of Australia Announces $476 Mln Renounceable Entitlement Offer
ERA
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Nov 15 (Reuters) - Energy Resources Of Australia Ltd ERA.AX :

* ANNOUNCES $476 MILLION RENOUNCEABLE ENTITLEMENT OFFER TO FUND ITS RANGER PROJECT AREA REHABILITATION OBLIGATIONS

* OFFER PRICE OF $0.15 PER SHARE

* RIO TINTO WILL SUBSCRIBE FOR ITS ENTITLEMENT IN FULL AND IS ACTING AS UNDERWRITER TO OFFER

* PROCEEDS TO FUND CO'S REHABILITATION OBLIGATIONS FOR RANGER PROJECT AREA & ENABLE CO TO CONTINUE AS A GOING CONCERN

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