Australia's Green Technology Metals slumps on discounted entitlement offer

Green Technology Metals

14/03/2025 03:44

** Shares of Green Technology Metals GT1.AX fall 34.5% to a record low of A$0.038

** Lithium explorer launches entitlement offer to raise about A$4 million ($2.52 million)

** Issue price of A$0.004 per new share for every 3.85 shares held represents a 31% discount to co's last close

** Says funds raised through the offer to be used for development activities at the Seymour project in Canada, among others

** 3.1 mln shares change hands, 25.5x the 30-day average of 122,677

** Stock down ~45% YTD, including current session's moves

($1 = 1.5898 Australian dollars)

 (Reporting by Manasi Dasa in Bengaluru)

 ((Manasi.DasaSundeep@thomsonreuters.com;))