04 Mar Minen Portal, Completion of $4m Placement to Accelerate Botswana Projects
Sydney, Australia – Cobre Ltd. (ASX:CBE) is pleased to announce that the Company has received firm commitments from institutional, sophisticated and professional investors for the placement of approximately 76.9 million new fully paid ordinary shares (New Shares) at an issue price of $5.2c per New Share to raise gross proceeds of A$4.0 million (Placement). The Placement comprises two tranches:
- Tranche 1 to raise A$2.3 million via the issue of 43.7 million New Shares utilising the Company’s existing placement capacity pursuant to ASX Listing Rules 7.1 and 7.1A.
- Tranche 2 to raise approximately A$1.7 million via the issue of approximately 33.2 million New Shares subject to shareholder approval to be sought at an Extraordinary General Meeting (EGM) of the Company expected to be held in April 2024 (Tranche 2).
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 Botswana.
Read the article: https://www.minenportal.de/artikel/527117–Cobre-Limited~-Completion-of-4m-Placement-to-Accelerate-Botswana-Projects.html