Connect with us

Hi, what are you looking for?

Human Spirit PowerfulHuman Spirit Powerful

Investing News

$4.33M Funding Secured Through WCNOE Option Underwriting Agreement

White Cliff Minerals Limited (White Cliff or the Company) is pleased to advise that it has executed an underwriting agreement (the “Underwriting”) with CPS Capital Group Pty Limited (“CPS’) and its nominees to underwrite the listed WCNOE options (“WCNOE” or the “Options”). CPS will act as Lead Underwriter with the underwriting supported by other leading Australian, European & UK financial institutions.

This Option confers to the owner a right to purchase a share in the Company at a price of

$0.015 per share before on or COB 28 February 2024. There are currently 288,528,071 listed WCNOE Options expected to raise AUD$4.33M before expenses.

Including recent director conversions and assuming the underwriting is not terminated due to any of the significant adverse events outlined in Appendix 1 the Company will have approximately $6.5m in cash and liquid securities after the conversion process has been completed meaning the Company is fully funded for all activities at Radium Point and Coppermine for 2024 and beyond.

Commenting on the Underwriting, White Cliff Chairman, Roderick McIllree said:

“The recent option conversions at 1.5c by directors and KMPs as well as this significant underwriting by resource specialist groups from Australia and Europe demonstrates a global recognition of the potential for our projects and strategy.

This funding positions the Company to execute aggressive exploration campaigns at both the Radium Point Uranium and Coppermine Copper projects. The Company is finalising exploration programmes for deployment shortly with a specific focus on high priority targets, details of which will be announced in due course.

The Company continues to assess an additional project opportunity which has the potential to be significantly value accretive and looks forward to updating Shareholders.”

Click here for the full ASX Release

This post appeared first on investingnews.com

You May Also Like

Stock News

Tech stocks were hit with selling pressure to start the year, but many are still in long-term trends and some are nearing support-reversal zones....

World News

PORTSMOUTH, N.H. — Former president Donald Trump is aiming for a crushing victory in Iowa on Jan. 15. But it is the New Hampshire...

World News

DES MOINES — Ron DeSantis and Nikki Haley held back-to-back CNN town halls in Iowa on Thursday as they fight to emerge as the...

Investing News

Australian Vanadium Limited (ASX: AVL, “the Company” or “AVL”) is pleased to announce that it has successfully commissioned its vanadium electrolyte manufacturing facility (Facility)...