Fortress Minerals (SGX:OAJ) received a shortfall notice from Norwest Minerals (ASX:NWM) for 139,006,513 shares under the Western Australian miner's rights issue exercise, after meeting subscription conditions, according to a filing with the Singapore Exchange on Tuesday.
The application price for the shortfall shares is AU$602,357.
The shortfall is from a right issue exercise in which the company had agreed to subscribe for up to 130,000,000 new shares in Norwest Minerals at AU$0.01 per share and 130,000,000 free options at AU$0.03 per share if the rights issue is undersubscribed.
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