Verity Resources (ASX: VRL) has commenced a non-renounceable pro rata entitlement offer to raise approximately $2 million before costs to advance development at its Monument Gold project in Western Australia and progress high-grade copper-silver projects in Botswana.
The offer provides eligible shareholders with the opportunity to subscribe for one new share for every five shares held at an issue price of $0.025.
Each new share will also carry one free attaching unlisted option exercisable at $0.036 and expiring five years from the date of issue.
Verity’s directors are participating in the offer, with Patrick Volpe and Paul Dickson committing via associated entities to subscribe for up to approximately $598,333 of any remaining shortfall.
Monument Gold Development Focus
Funds raised will be applied toward advancing the Monument Gold project near Laverton, following completion of recent resource upgrade and expansion drilling.
Verity reported that drilling to date has demonstrated strong continuity of mineralisation along strike and at depth, supporting potential for further resource growth at the Korong–Waihi deposit.
The company plans to progress scoping-level mine planning and optimisation work following the forthcoming updated Mineral Resource Estimate of 154,000 ounces of gold.
In parallel with Monument, Verity intends to use part of the proceeds to advance its high-grade copper-silver assets in Botswana, where the company recently strengthened its portfolio by acquiring a suite of critical metals projects in the Limpopo Mobile Belt.
Significant Recent Momentum
Director Patrick Volpe said the company had delivered significant momentum in recent months both at Monument and across the Botswana portfolio.
“This entitlement offer provides existing shareholders with a direct opportunity to participate in the company’s next growth phase as we advance the Waihi-Korong deposit toward mining and progress the broader development pathway at Monument,” Mr Volpe said.
“Importantly, the directors are participating and also partially underwriting the offer, reflecting our confidence in the company’s strategy and near-term execution plan.”
The offer will be made under a prospectus Verity anticipates it will lodge with ASIC on or about 11 February 2026.
