| <p>South West Pinnacle Exploration Ltd. announced it has completed a rights issue subscription in Alara Resources Ltd., an Australian mining and exploration company listed on the Australian Stock Exchange, alongside promoters Vikas Jain and Piyush Jain. South West Pinnacle Exploration received an allotment of 1,87,91,597 shares, increasing the aggregate shareholding of South West Pinnacle Exploration, Vikas Jain, and Piyush Jain from 10.83% to 12.66% in Alara Resources. The acquisition involved a cash consideration of AUD 0.032 per share, and South West Pinnacle Exploration noted it has joint ventures with Alara Resources subsidiaries in Oman.</p> |