Placement and Corporate Update
Perth, Dec 1, 2017 AEST (ABN Newswire) - Capital Mining Limited (
ASX:CMY) (Capital or the Company) is pleased to advise the completion of a placement of 166,666,667 fully paid ordinary shares to raise $500,000.
The Company will issue 100,000,000 ordinary shares in accordance with Resolution 5 which was approved at today's General Meeting at an issue price of $0.004 combined with 66,666,667 ordinary shares at an issue price of $0.0015 using the Company's existing capacity under ASX Listing Rule 7.1. The issue is expected to be completed 1 December 2017. The Company also notes the placement shares will be placed in a holding lock until such time as the Company is able to issue a cleansing prospectus to remove any secondary trading restrictions.
The directors of Capital also confirm that the closing cash balance as of today is $706,000.
Capital also refers to the announcement dated 16 November 2017 regarding Capital Cannabis Limited (CCL).
The Company has made the decision to discontinue medical cannabis investment opportunities and is now finalising an exit from this business unit. This exit is taking longer than anticipated and is expected to be concluded on or about 31 December 2017.
About Capital Mining Limited
Capital Mining Limited (ASX:CMY) is an active ASX listed junior mineral resources company focused on the acquisition and exploration of key, demand driven commodities. Its project portfolio includes lithium prospective assets in Western Australia and the Republic of Ireland, plus gold and base metals projects in New South Wales.
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