C29 Metals Limited (C29) has successfully secured commitments for a placement of 7,000,000 fully paid ordinary shares, each priced at 7.5 cents per share, resulting in a total of AU$525,000 raised from sophisticated, professional, and exempt investors. This capital-raising endeavor was carried out under Listing Rule 7.1, utilizing the company's available capacity. The newly issued Placement shares will hold equal status with existing C29 ordinary shares listed on the ASX, with the share issuance anticipated to take place around September 25, 2023. Importantly, the pricing for this Placement represents a 16.7% discount compared to the last traded price.
ARQ Capital Pty Ltd has been appointed as the Lead Manager for this Placement, with fees comprising 6% of the total funds raised and an additional AU$10,000 management fee. The net proceeds generated through this Placement will be primarily allocated to funding a maiden drill program for the Mayfield project in Mt Isa, Queensland, further developments in the NSW Sampsons Tank copper project, as well as support for other ongoing projects and working capital needs.
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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.
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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.
