- Factor Therapeutics (FTT) has completed its name change to Dominion Minerals, shifting its focus to copper and gold exploration
- Further, Dominion finished acquiring PowerLime, agreeing to issue 18.75 million shares to PowerLime’s shareholders at 4 cents per share
- As part of the company’s application to relist on the ASX, it’s looking to raise $4 million through the issue of 100 million shares
- The company has set aside $800,000 of the offer proceeds to allocate to existing shareholders, which it says have been significantly exceeded
- Factor Therapeutics last traded at 0.5 cents
Factor Therapeutics (FTT) has officially completed its name change to Dominion Minerals.
The name change marks Factor’s transition from a biotechnology company to a resources company.
Dominion Minerals is now a copper and gold exploration and development company, which is focused on parts of China and Panama.
Further to this, Dominion Minerals has completed its acquisition of PowerLime.
Having satisfied all necessary conditions, Dominion has purchased all issued capital of PowerLime.
As a result of this, Dominion will issue 18.75 million shares to PowerLime’s shareholders at 4 cents per share, representing an acquisition value of A$750,000.
Over 6 million options will also go to PowerLime shareholders, along with 4.68 million options to the management team. The options will be exercisable at 12 cents each and have a four-year exercise date.
As part of the company’s application to relist on the ASX, it’s looking to raise $4 million through the issue of 100 million shares. This offer is set to close on October 1.
The company set aside $800,000 of the offer proceeds for allocation to existing shareholders, which it says have been significantly exceeded.
Factor Therapeutics last traded at 0.5 cents.