- Southern Hemisphere Mining (SUH) raises $1.5 million from an oversubscribed rights issue for its Chilean copper and gold projects
- The company will issue 48.9 million new shares as well as 24.4 million new options which are exercisable at 10 cents with expiry in February 2024
- SUH will use the funds to undertake further exploration at its Chilean copper and gold projects as well as for general working capital
- Shares closed flat at 3.4 cents each
Southern Hemisphere Mining (SUH) has raised $1.5 million from an oversubscribed rights issue for its Chilean copper and gold projects.
The company will issue 48.9 million new shares to institutional and professional investors at a price of three cents each.
SUH will issue 24.4 million new options which are exercisable at 10 cents each and expire in February 2024.
The funds will be used to further explore the company’s Chilean copper and gold projects and for general working capital and the costs associated with the offer.
The new securities will be issued tomorrow.
Shares closed flat at 3.4 cents each.