$1.0M Share Placement Plan Completion
- $1.0 million has been secured from an oversubscribed SPP
- Cyprium is well funded to rapidly advance the Murchison Copper-Gold Projects
- Geophysics field work activities to commence next week
The SPP was conducted in accordance with the Company's ASX announcements dated 26 October 2020 for the $5.0 million Placement Oversubscribed and Launch of SPP, and the Share Purchase Plan Offer Booklet dated 2 November 2020.
A total of 6,666,649 shares will be issued pursuant to the SPP at $0.15 per share. Eligible Shareholders who applied for Cyprium Shares under the SPP will receive a letter in the coming days from Advanced Share Registry to confirm their personal allocations.
Shares under the SPP are expected to be issued on 20 November 2020, with trading on the ASX expected to commence on 23 November 2020. The Terms used above have the same meanings as contained in the Share Purchase Plan Offer Booklet dated 2 November 2020.
Executive Director Barry Cahill commented: "We would like to thank our shareholders for their strong support and participation in a share placement plan that has raised an additional $1.0 million on the same terms as the recent $5.0 million capital placement.
The Company is now well funded and we are looking forward to commencing our geophysics programmes from next week with the drilling campaigns to follow soon afterwards at our Cue and Nanadie Well Copper-Gold Projects."
About Cyprium Metals Ltd
Cyprium Metals Limited (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.
Cyprium Metals Ltd