- Perth-based Celsius Resources (CLA) will receive $3.4 million via share placement
- CLA will issue over 167 million fully paid ordinary shares at an issue price of 2.03 cents per share with one free attaching option for each two shares issued, representing about 15.9 per cent of the shares currently on issue
- The new shares will be priced at 2.4 cents each, a 15.4 per cent discount to the last closing price and a 25 per cent discount to the preceding 15-day volume weighted average price
- Funds are anticipated to be used to complete the current drill program on the company’s flagship MCB Copper-Gold Project and the new metallurgical test program for the Opuwo Cobalt project
- CLA shares are trading at 2.1 cents, down 12.5 per cent prior to trading halt.
Perth-based Celsius Resources (CLA) is set to receive $3.4 million equity raising via share placement which included heavy interest from new, high-quality domestic and international subscribers.
CLA will issue 167,487,687 fully paid ordinary shares at an issue price of 2.03 cents per share with one free attaching option for each two shares issued, representing about 15.9 per cent of the shares currently on issue.
The new shares will be priced at 2.4 cents each, a 15.4 per cent discount to the last closing price and a 25 per cent discount to the preceding 15-day volume-weighted average price of 2.7 cents.
Once issued, new shares will rank on the same terms as existing shares on issue.
The new options will have an exercise price of 4 cents and will expire two years from issue and will be applied to be listed on the ASX, subject to meeting criteria.
The company anticipates that funds raised will be used to complete the current drill program on its flagship MCB Copper-Gold Project and the new metallurgical test program for the Opuwo Cobalt project.
“I’d like to welcome all new shareholders to the register and thank those who have and continue to support the Company in its pursuit of developing our portfolio of Copper-Gold assets and realising value from our Opuwo Cobalt project,” says CLA’s Managing Director, Robert Gregory.
The expected date of ASX quotation of placement shares will be on March 10 and the expected date of ASX quotation of new options will be on March 17.
EverBlu Capital will act as Lead Manager to the share placement and will receive six per cent of the gross proceeds raised from the issue of ordinary shares and 66,995,074 options, subject to shareholder approval.
CLA shares were down 12.5 per cent trading at 2.1 cents, coming out of the company’s trading halt at 12:0 pm AEDT.