IPO - Cobre Limited, page-7

Metal Tiger's chunky investment in Cobre (Thanks to top geo Terry Grammer sourcing the project):

"Under the Subscription Agreement, Metal Tiger has agreed to invest a minimum of A$2m at A$0.20 per share in the Cobre IPO which, assuming an increased fundraise of A$10m, will result in Metal Tiger's holding in Cobre increasing to 17.9% on Cobre's admission to trading on the ASX ("Admission"). In addition, Metal Tiger has the right to subscribe for additional shares under the Cobre IPO in its sole discretion, provided that its shareholding on Admission does not exceed 19.99% and Metal Tiger will forfeit its pre-IPO shares in Cobre (including the Additional Pre-IPO Shares) if it does not invest at least A$2m in the Cobre IPO. It is the current intention of the Board to invest the full A$2.4m in the Cobre IPO to go to 19.99%. Michael McNeilly has also been appointed as a director to the Cobre Board."

Sounds to me like the fundraise was well oversubscribed.

I've ticked 'held' due to my investment in Metal Tiger. Very excited about this potential high class VMS project.