Flynn Gold Launches AU$3 million Rights Issue to Fund Exploration

Flynn Gold Limited (ASX: FG1) has announced a one-for-three renounceable rights issue to raise up to AU$3 million before costs. The offer is priced at 2.3 cents per share, an 18% discount to the last traded price of 2.8 cents. For every two new shares subscribed, eligible shareholders will also receive one option exercisable at 4 cents within 30 months.

The issue is underwritten to AU$1.5 million by Mahe Capital, with major shareholder Colin Bourke sub-underwriting AU$500,000. Rights will commence trading on 15 September 2025 and close on 3 October 2025. Funds will primarily support drilling at the Golden Ridge Project in Tasmania, where new gold prospects have been identified. Flynn Gold also holds additional projects in Tasmania and Western Australia, positioning it for continued exploration growth.

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