Corazon Mining Limited (ASX: CZN) (“Corazon” or “the Company”) is pleased to announce it has received a firm commitment for a placement to raise $2,040,671, at $0.04/share, from Blackstone Minerals Limited (“Blackstone”) (ASX:BSX) (“Placement”).
Highlights
  • Corazon has received a firm commitment for a placement from Blackstone Minerals Limited(ASX:BSX) to raise approximately $2m -at above market share price of $0.04/share
  • In addition, the Company is proposing to offer shareholders a non-renounceable entitlement offer, on a one-for-one basis at $0.03 per share, to raise up to$10.7m
  • Corazon welcomes Blackstone as a cornerstone investor and acknowledges its support, along with major shareholder Delphi, of the Company’s nickel focus
  • Funds raised will provide a substantial capital injection to enable Corazon to accelerate exploration and development at its nickel sulphide projects in Canada and Australia
  • Drilling is planned to recommence at the Lynn Lake Project in Canada this month in parallel with ongoing mining and processing studies

The Company is also offering eligible shareholders the opportunity to acquire new shares at $0.03/share through a one (1) for one (1) non-renounceable pro-rata rights issue to raise approximately $10.7 million (before costs), if fully subscribed (“Entitlement Offer” or “Offer”).

Click here for the full ASX Release

This article includes content from Blackstone Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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