Core Energy Secures $3.7 Million Capital Raise, Welcomes Cornerstone Investor

Highlights:

• Successful Capital Raise: Core Energy Minerals Limited (ASX: CR3) secured $3.7 million through a two-tranche placement at $0.019 per share, with strong support from investors and directors.
• Cornerstone Investor Commitment: Renowned investor Jose Luis Manzano, founder of Integra Capital, contributed $1.15 million, boosting confidence in the company's growth potential.
• Exploration-Focused Deployment: Funds will advance uranium exploration projects across South Australia, Brazil, and Namibia, with on-ground work at the Cummins Project set to begin in Q1 2025.

Strategic Funding Boost

Core Energy Minerals Limited (ASX: CR3) has announced it has secured firm commitments for a capital raise of $3.7 million through a two-tranche placement. Shares will be issued at $0.019 per share, representing a 10% discount to the last trading price of $0.021. At the time of writing, the placement has garnered strong support from institutional, professional, and sophisticated investors, including all directors of the company.

The company’s financial outlook was further strengthened by the participation of cornerstone investor Mr. Jose Luis Manzano, who has committed $1.15 million. Mr. Manzano, founder of Integra Capital, is known for backing successful ventures, including Latin Resources, recently acquired by Pilbara Minerals for $550 million.

Capital Deployment

Funds raised will primarily be allocated to exploration activities across Core Energy’s uranium projects in South Australia, Brazil, and Namibia. Notably, $750,000 is earmarked for the Cummins Project in South Australia, where on-ground exploration is expected to commence in Q1 2025. Additional funds will address a short-term loan repayment, working capital, and the placement's costs.

Structure and Timeline
The placement involves:

• Tranche 1: $1.29 million raised through the issue of 67.7 million shares, expected to be completed by January 28, 2025.
• Tranche 2: $2.4 million conditional on shareholder approval, anticipated by late February 2025.

Participants will receive one free-attaching option per share, exercisable at $0.035 and expiring on March 31, 2027.

Future Prospects

Core Energy’s Chairman, Chris Gale, emphasized the importance of the placement in advancing the company’s projects, stating, “This capital raise places us in a strong position to execute our exploration plans and unlock shareholder value.”

With a solid financial foundation and a focus on exploration, Core Energy is poised to expand its footprint in the uranium sector.

Disclaimer for Kapitales Research

The materials provided by Kapitales Research, including articles, news, data, reports, opinions, images, charts, and videos ("Content"), are intended for personal, non-commercial use only. The primary goal of this Content is to educate and inform readers. This Content is not meant to offer financial advice, nor does it include any recommendation or opinion that should be relied upon for making financial decisions. Certain Content on this platform may be sponsored or unsponsored, but it does not serve as a solicitation or endorsement to buy, sell, or hold any securities, nor does it encourage any specific investment activities. Kapitales Research is not authorized to provide investment advice, and we strongly advise users to seek guidance from a qualified financial professional, such as a financial advisor or stockbroker, before making any investment choices. Kapitales Research disclaims all liability for any direct, indirect, incidental, or consequential damages arising from the use of the Content, which is provided without any warranties. The opinions expressed by contributors or guests are their own and do not necessarily reflect the views of Kapitales Research. Media such as images or music used on this platform are either owned by Kapitales Research, sourced through paid subscriptions, or believed to be in the public domain. We have made reasonable efforts to credit sources where appropriate. Kapitales Research does not claim ownership of any third-party media unless explicitly stated otherwise.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com