Chalice Mining announces a placement and share purchase plan

Chalice Mining Limited (ASX: CHN) announces that it has obtained commitments for a private placement to raise approximately AU$70 million at AU$7.30 per share. The Company has also announced an SPP of up to AU$10 million at the same offer price as the Placement, bringing the total gross proceeds from the Placement and SPP to up to AU$80 million.

The issue price represents a 5.7% discount to the previous closing price of AU$7.74 per share and a 5.9% discount to the 5-day volume weighted average share price. The placement's proceeds will be used to continue exploration and pre-development work at its 100%-owned Julimar Nickel-Copper-PGE Project as well as further exploration of its very promising, >8,000 km West Yilgarn Province licence holding in Western Australia.

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