On 15 June 2022, Cosmo Metals Limited (ASX:CMO) successfully secured binding commitments for a two-tranche Placement, raising $650,000 before costs. The Placement involves issuing approximately 8.7 million new fully paid ordinary shares at an issue price of AU$0.075 per share. The first tranche, comprising around 7.6 million new shares (AU$568,000), does not require shareholder approval. The second tranche, including participation from Cosmo Directors, involves up to 1.1 million new shares (AU$82,000) and is subject to Shareholder Approval at a General Meeting scheduled for late July 2023.
The funds raised through the Placement will primarily be utilized for business development initiatives, focusing on new exploration opportunities, targeting work at the Yamarna Base Metal Project, and supporting general working capital requirements. In addition to the new shares, one free attaching unlisted option will be issued for each new share issued through the Placement, exercisable at AU$0.10 with an expiry date 36 months from issue, subject to shareholder approval.
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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.
