- Tranche 1 to raise
- Tranche 2 to raise approximately
Proceeds from the Placement, together with existing cash, will be used to accelerate exploration on the Company's tenement holding in the Kalahari Copper Belt in
Commenting on the success and level of interest in the Placement,
"The Cobre team is pleased to have secured additional funds which will be strategically used to accelerate exploration on the Company's tenement holding in the Kalahari Copper Belt in
With the recent positive hydrogeological results from the
I would like to thank all existing and new shareholders who participated in the Placement for supporting the Board's strategy to fast track exploration and development in this highly prospective region of southern
PLACEMENT DETAILS
The Placement was strongly supported by new and existing shareholders, including
The Placement was conducted at a price of
- 17.5 % discount to the last close price of 6.30c on
- 18.1% discount to the 5-day Volume Weighted Average Price (VWAP) of 6.35c; and
- 16.6% discount to the 10- day VWAP of 6.24c.
Participants in the Placement will also be entitled to apply for one (1) free attaching option for every two (2) New Shares allocated under the Placement, which will be exercisable at 7.8c each and have an expiry date that is 3 years after the issue date (Attaching Options). The Attaching Options will be unlisted and subject to shareholder approval at the EGM. Placement participants can apply for the Attaching Options under a Prospectus, which is expected to be lodged with ASIC in
All New Shares issued under the Placement, as well as any shares issued upon the exercise of the Attaching Options, will rank pari passu with the existing ordinary shares on issue in the capital of the Company.
*To view the Indicative Timetable, please visit:
https://abnnewswire.net/lnk/1NX707FP
About
Contact:
E: info@cobre.com.au
WWW: www.cobre.com.au
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