Powermax Minerals Inc. announced a rights offering to raise up to $435,098 by issuing 43.5 million new shares at $0.01 each to existing shareholders. The offering includes a standby guaranty agreement ensuring full subscription, with standby guarantors receiving fees and warrants as compensation. Proceeds will fund exploration and administrative costs for Canadian rare earth projects. The rights offering expires November 9, 2026, with a planned share consolidation afterward to reduce the number of outstanding shares.
Powermax Minerals' rights offering is presented here with Pluang's Basic Materials sector data for context. For readers following Basic Materials, 62 of 83 priced US stocks rose and 21 fell today. Notable movers include HYMC at USD 17.39 (+6.39%), IAUX at USD 1.52 (+5.90%) with 100% buy orders, and AEM at USD 187.00 (+5.64%) with 100% buy orders, as of Oct 16, 2026 08:11 WIB.
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