26m shares issued at 45c
EGM shareholder approval required for issue of 22m shares
from the asx release....
The placement will be undertaken in two tranches:
• The first tranche is the Unconditional Placement, comprising the issue of 4 million shares to raise A$1.8 million. This portion of the raising is within the Company's 15% placement capacity and is permitted under the listing rules without shareholder approval (“Unconditional Placement”).
• The second tranche is the Conditional Placement of 22.13 million shares to raise a further A$9.9 million. Completion of the second tranche of the capital raising will be made subject to shareholder approval at an Extraordinary General Meeting, which will be convened as soon as possible (“Conditional Placement"). The Conditional Placement is being conducted to accommodate internal approval processes of CAP.
Settlement of the Unconditional Placement is expected to occur on or before Monday the 22nd of July 2013 with allotment to occur on the following day.
The Placement has seen strong demand from existing strategic shareholders, particularly our major project partner CAP demonstrating their continued support for Hot Chili and its flagship Productora copper project. Strong demand was also received from affiliates of Sprott Inc.
The Placement underpins funding for Hot Chili’s development plan to continue advancing Productora, including progressing Pre-feasibility Studies and ultimately working towards a decision to mine on one of Chile’s fastest emerging new mid-tier coastal copper projects.
Specifically, funds from the Placement are expected to be directed towards the continuation of resource growth drilling and development study activities at Productora.
Hot Chili have an exciting project pipeline including its latest copper-gold discovery Frontera, 70km south of Productora. Together, Productora and Frontera underpin Hot Chili’s strategy to develop a coastal copper production hub in Chile.
Christian Easterday, Managing Director of Hot Chili, commented on the Placement, "We are very pleased with the support of existing strategic shareholders in the Placement, in particular our major shareholder and strategic project partner CAP. The funds secured will allow us to continue to invest in the Company's Productora copper project, our most advanced large-scale copper asset in Chile."
UBS AG, Australia Branch is acting as Sole Lead Manager to the Placement.
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81.5¢ |
Change
0.020(2.52%) |
Mkt cap ! $123.3M |
Open | High | Low | Value | Volume |
79.0¢ | 81.5¢ | 79.0¢ | $48.95K | 61.66K |
Buyers (Bids)
No. | Vol. | Price($) |
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2 | 5661 | 80.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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81.5¢ | 1660 | 1 |
View Market Depth
No. | Vol. | Price($) |
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2 | 5661 | 0.800 |
1 | 120000 | 0.780 |
3 | 31051 | 0.775 |
3 | 9074 | 0.770 |
2 | 4659 | 0.760 |
Price($) | Vol. | No. |
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0.815 | 1660 | 1 |
0.845 | 169 | 1 |
0.850 | 1352 | 2 |
0.860 | 28061 | 2 |
0.870 | 15000 | 1 |
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