Cyprium Metals Ltd: Capital Raising and Proposed Reinstatement Update
09.08.2023 | ABN Newswire
Perth, Australia - Cyprium Metals Ltd. (ASX:CYM) is pleased to advise that it has received confirmation from ASX that its securities will, subject to the satisfaction of certain conditions (Conditions), be reinstated to quotation following the voluntary suspension of its securities on 23 February 2023 (Reinstatement). The Conditions are detailed in the Company's notice of general meeting released today, 09 August 2023.Following receipt of the Conditions, the Company wishes to provide the following updates in relation to the Reinstatement process and Capital Raising (defined below):
- Reinstatement1 will now occur following completion of the proposed capital raising, comprising:
- the placement to sophisticated and professional investors, in respect of which firm commitments for $24m have been received (Placement); and
- the pro rata non-renounceable rights issue to raise up to an additional $5 million (before costs) (Entitlement Offer), (together, the Capital Raising).
- To avoid any potential delays with Reinstatement, a transaction specific prospectus for the Entitlement Offer (Prospectus) will now be lodged during the notice period for the general meeting at which all approvals in relation to the Capital Raising will be sought.
To view the revised indicative timetable, please visit:
https://abnnewswire.net/lnk/E850Q77Y
About Cyprium Metals Ltd:
Cyprium Metals Ltd. (ASX:CYM) is poised to grow to a mid-tier mining business and manage a portfolio of Australian copper projects to deliver vital natural resources, strong shareholder returns and sustainable value for our stakeholders. We pursue this aim, in genuine partnerships with employees, customers, shareholders, local communities and other stakeholders, which is based on integrity, co-operation, transparency and mutual value creation.
Source:
Cyprium Metals Ltd.
Contact:
Barry Cahill Executive Director T: +61 8 6374 1550 Wayne Apted Chief Financial Officer and Company Secretary Lexi OHalloran Investor and Media Relations E: lexi@janemorganmanagement.com.au T: +61 404 577 076 E: info@cypriummetals.com