Cohiba raises $1.5 million through Placement
Melbourne, Dec 7, 2023 AEST (ABN Newswire) - Cohiba Minerals Limited (
ASX:CHK) (CHKMF:OTCMKTS) is pleased to announce that it has received firm commitments for a capital raising of $1.5 million from professional and sophisticated investors ('Placement').
The issue price for the Placement is $0.0012 (0.12 cents) and the Company will issue 1,250,000,000 fully paid ordinary shares ('Shares') with 316,986,000 Shares issued in accordance with the Company's placement capacity under ASX Rule 7.1 and the remaining 933,014,000 Shares being subject to shareholder approval at an extraordinary general meeting to be held in late January 2024 ('EGM'). Participants in the Placement will receive one (1) free attaching option for every two (2) new Share issued with the options exercisable at $0.003 and expiring 3 years from the issue date ('Placement Options'). The issue of the Placement Options will be subject to receipt of shareholder approval at the EGM.
Phoenix Global Investments Pty Ltd ('Phoenix') acted as Lead Manager on the Placement and will receive a fee of 6% of the amount raised under the Placement (ex GST).
To view the Indicative Timetable, please visit:
https://abnnewswire.net/lnk/0A2YVJG5
About Cohiba Minerals Limited
Cohiba Minerals Limited (ASX:CHK) is listed on the Australian Securities Exchange with the primary focus of investing in the resource sector through direct tenement acquisition, joint ventures, farm in arrangements and new project generation. The shares of the company trade under the ticker symbol CHK.
The Company recently acquired 100% of the shares in Charge Lithium Pty Ltd, which holds exploration licences in Western Australia.
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