$3.2M Rights Issue for Green & Gold Minerals to Fund Queensland Exploration

Green & Gold Minerals has launched a $3.2 million rights issue to fund its exploration activities in Queensland, Australia.

The company plans to use the funds to advance copper-silver-tin exploration at its Herberton Project and gold drilling at Chillagoe.

Eligible shareholders will receive one free attaching option for every two new shares subscribed, with an exercise price of $0.20 and a 2.5-year expiry date.

The rights issue is priced at $0.10 per new share, representing a 29% discount to the company's latest closing price of $0.14 and around 30% below its 30-day volume-weighted average price of $0.1435.