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Conico: Launches placement and rights issue

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
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