Lodestar Investment Holdings Corp. said its board approved a tenfold increase in its authorized capital stock to P3 billion to raise fresh equity from existing shareholders as well as new investors.
The capital restructuring is in line with the decision of the board of Lodestar to allow the listed company “to invest and deal in digital assets, but without engaging in the business of a crypto asset service provider or virtual asset service provider.”
Loadstar is currently engaged in the development of several gold and chromite mining claims in Masbate, Cebu, Negros Occidental, and Palawan.
The company said Issuance of shares of up to the entire increase in the authorized capital stock to new investors or existing stockholders at an issue price at least equal to the shares par value of P0.10. The shares will be listed on the Philippine Stock Exchange once issued.
Changes in the capital structure will be subject to shareholder approval during their meeting on Sept. 12.
