Source: Mineworx.
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  • Mineworx Technologies (MWX) will be offering rights  to holders of its common shares of record at the close of business on July 18, 2022
  • Each shareholder will receive one transferable right for each common share held as of the record date
  • Each right will entitle the holder to subscribe for one common share at $0.015 share until 5:00 p.m. ET on September 12, 2022
  • The company also plans to consolidate its issued and outstanding common shares on two-to-one basis
  • Mineworx is a CleanTech company that focuses on the development and commercialization of its technologies for the recovery of precious metals
  • Mineworx Technologies Ltd. opened trading at $0.05 per share

Mineworx Technologies (MWX) has announced a rights offering to shareholders.

Each shareholder will receive one transferable right for each common share held.

Each right will entitle the holder to subscribe for one common share for a subscription price of $0.015 until 5:00 p.m. ET on September 12, 2022.

If all the rights are exercised, the offering will raise gross proceeds of up to $5,207,679.

Mineworx currently has 347,178,581 common shares issued and outstanding. If all rights issued under the offering are exercised, that will create extra 347,178,581 common shares.

The company intends to use the net proceeds from the rights offering for capital expenditures and for general corporate purposes.

The rights will be listed and posted for trading on the TSXV under the symbol “MWX.RT” on a “when issued” basis commencing on July 15, 2022 and will expire at 12:00 noon ET on September 12, 2022.

The company plans to consolidate its issued and outstanding common shares on a one post-consolidation common share for up to every two pre-consolidation common share basis.

Mineworx is a CleanTech company that focuses on the development and commercialization of its environmentally friendly processing technologies for the recovery of precious metals

Mineworx Technologies Ltd. opened trading at $0.05 per share.

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