Aldoro Resources Says Pioneer Development Fund Terminates Underwriting Deal

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Aldoro Resources (ASX:ARN) said Pioneer Development Fund has terminated its underwriting agreement after the company's share price fell below the AU$0.25 threshold specified under the deal, according to an Australian bourse filing on Tuesday after market hours.

Pioneer had agreed to underwrite the company's unlisted options, exercisable at AU$0.25 by Sept. 9, but withdrew with immediate effect after the company's closing share price recently fell below AU$0.25, the filing added.

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