Conico Launches placement and rights issue
- Conico (CNJ) is looking to raise up to around $7.02 million through a placement and non-renounceable rights issue
- The company will issue investors with 67 million shares at 6 cents each to raise $4.02 million
- The placement comes with one-for-two free-attaching options to acquire shares at 10 cents apiece on or before November 30 2024
- In addition, the company hopes to raise up to an extra $2,998,195 through a rights issue
- The company will use the money for exploration at its Ryberg and Mestersvig projects in Greenland
- Company shares are down 6.25 per cent to trade at 6 cents at 3:31 pm AEST
