Enova Mining Limited (ASX:ENV) has disclosed the results of its non-renounceable rights offer, which closed on 30 October 2026, raising a total of $495,152 through the issue of 495,152,056 new shares across the Entitlement Offer acceptances and the Shortfall Offer.

Key Points

  • The Entitlement Offer closed on 30 October 2026, with eligible shareholders able to subscribe for one new share for every four existing shares at $0.001 per share.
  • Acceptances under the Entitlement Offer totalled 94,785,949 new shares, representing approximately 19.14% of total entitlements available for subscription, raising $94,786.
  • The Shortfall Offer raised $400,366 through 400,366,107 new shares, bringing the total raised across both components to $495,152 for 495,152,056 shares.
  • An additional 195,785,284 new shares were applied for under the Shortfall Offer, with directors reserving the right to consider and place those shares and the balance of the Shortfall Offer.

Entitlement Offer Terms and Closing Results

The Entitlement Offer was conducted pursuant to a Prospectus dated 30 September 2026, allowing eligible shareholders to subscribe for one new share for every four existing shares held on the Record Date at an issue price of $0.001 per share. By the closing date of 30 October 2026, the company received acceptances for 94,785,949 new shares, representing approximately 19.14% of the total entitlements available for subscription, raising $94,786 from that component of the offer.

Shortfall Offer and Additional Applications

The Shortfall Offer component of the Entitlement Offer raised $400,366 through 400,366,107 new shares. Beyond this, the company disclosed it received applications for an additional 195,785,284 new shares under the Shortfall Offer above those already allocated. According to the filing, the directors reserve the right to consider and place these additional new shares along with the remaining balance of the Shortfall Offer. No timeline for a decision on the additional applications was specified in the filing.

Intended Use of Funds from the Entitlement Offer

The filing states that funds raised from the Entitlement Offer will be applied towards exploration activities at the Naked Hill Project and Enova's existing projects portfolio, due diligence and exploration on the Caraúbas Monazite Project, tenement maintenance costs, costs of the Entitlement Offer, project generation, general working capital, and corporate overheads. No further breakdown of fund allocation by category or by project was provided in the filing.