CY5 has secured AU$11.1 million from institutional and sophisticated investors

Cygnus Metals Limited (ASX: CY5) has effectively garnered commitments from institutional and sophisticated investors, securing a capital infusion of approximately AU$11.1 million before accounting for associated expenses. This financial boost consists of two key elements. Firstly, there's a C$7.0 million Flow-through Share (FTS) Placement, equivalent to AU$8.1 million at a 0.865 AUD/CAD exchange rate. This placement, which exploits

Canadian tax law provisions were priced at AU$0.4275 per share, showcasing a notable 67.7% premium compared to Cygnus' recent sale price and an impressive 90.0% premium over the AU$0.225 book build price. Secondly, a Traditional Placement of AU$3.0 million was directed toward institutions and sophisticated investors, priced at AU$0.225 per share, offering a modest 11.8% discount compared to the last sale price of AU$0.255. These funds will underpin ongoing summer exploration activities and an expanded winter drilling program with more favorable drilling conditions.

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