VRX Silica Limited (ASX: VRX) has announced a 1 for 5 renounceable rights issue at 4 cents per share to raise up to approximately $6.2 million. This presents a discount of 18.4% to the last closing price and 27.3% to the 90-day VWAP. Shareholders will receive 1 free attaching option for every 2 new shares, with an exercise price of 10 cents each expiring in June 2028. The Rights Issue is open to eligible shareholders in Australia, New Zealand, Germany, and the UK, who hold shares as of 2 June 2026.

The Rights Issue, partially underwritten by Mahe Capital, aims to raise funds for various projects, including Arrowsmith North early works and finalizing property purchase. Shareholders can trade their rights from 1 June 2026, with the issue closing on 19 June 2026. The proceeds will be allocated towards project developments, studies, working capital, and expenses related to the issue.

For those interested, a prospectus is expected to be lodged with ASIC on 28 May 2026 and sent to eligible shareholders post the Record Date. Important dates regarding the Rights Issue have been outlined for reference. Investors are encouraged to reach out for further clarification or queries.