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Eumeralla ups rights issue to A$1.3M

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Eumeralla ups rights issue to A$1.3M

said April 4 thatit has revised its initial nonrenounceable rights issue, announced March 2, to raise approximately A$1.3 million fromthe previous target of A$777,769.

The companywill now undertake a fully underwritten renounceable entitlements issue of 52,499,439shares at an issue price of 2.5 cents per share, on the basis of 9 new shares forevery 8 shares held by shareholders on the record date.

Proceeds fromthe offer will be used to satisfy the company's pending working capital requirements.

The offer remainsfully underwritten by CPS CapitalGroup Pty Ltd. The company has executed a revised mandate letter andunderwriting agreement with CPS, engaging CPS to introduce potential assets thatEumeralla may be interested in acquiring, and to provide general ongoing corporateadvice.