Canyon Resources Limited (ASX: CAY) has entered a significant financial arrangement with Eagle Eye Asset Holdings Pte Ltd (EEA). Under this accord, EEA will subscribe to new fully paid ordinary shares ("Placement Shares") valued at AU$10.5 million, each priced at AU$0.07 per share. Additionally, EEA plans to exercise 202.9 million options, priced at AU$0.07 each, to acquire the corresponding shares upon exercise ("Exercise Shares"). This intricate transaction is anticipated to provide Canyon with a total capital infusion of AU$24.7 million, contingent upon specific conditions being met, including shareholder approval.
EEA will obtain 500 million unlisted options at AU$0.07 each, expiring in 2026, signifying a transformative capital investment from AU$24.7 million to AU$59.7 million. This includes issuing 150 million new shares at AU$0.07 and EEA exercising existing 202.9 million options upon approval, possibly leading to a 40.61% ownership in Canyon.
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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.
