- Caeneus Minerals (CAD) has successfully raised $500,000 via a placement to professional and sophisticated investors
- 125 million shares will be issued under the capital raise, each priced at 0.4 cents per share
- Investors will also receive a one-for-two attaching option, which has an exercise price of 1.5 cents each
- All of the funds raised will be spent on furthering the company’s exploration works, including at its new Mallina Basin tenement in WA
- Shares in CAD are trading steady, for 0.5 cents each
Mineral exploration company Caeneus Minerals (CAD) has successfully raised $500,000 via a placement to professional and sophisticated investors.
Under the capital raise, 125 million fully paid ordinary shares will be issued, with each share priced at 0.4 cents.
Investors will also be given a one-for-two attaching option, with an exercisable price of 1.5 cents per share and an expiry date of December 31, 2023.
Caeneus said it’ll use all of the $500,000 raised to progress its exploration works, including its newly purchased Mallina Basin tenement in WA’s Pilbara region.
The new shares under the placement are expected to be issued on Friday, August 28, or once the money is collected.
While shares in Caeneus Minerals are currently trading steady, at 0.5 cents each.