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CHI SILVER GP Conducts Shr Placement at 17.7% Discount, Raising Net Proceeds of $463M for Mine Exploration
Recommend 6 Positive 10 Negative 6 |
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CHI SILVER GP (00815.HK) announced the placement of 910 million company shares to Ye Liman, Zhang Tieren's Renovo Group, Yu Yim, Chen Zejun, Lin Xiuzhen and Lo Hoi Chuen, accounting for approx. 23.06% of its enlarged share capital, with a price of $0.51 per share, representing a discount of approx. 17.74% to last Friday's (13th) closing price of $0.62. The gross proceeds raised from the fundraising will be approx. $464 million, with net proceeds of approx. $463 million. Of which, approx. 40% will be towards the Company's expected capital expenditure contribution, in proportion to its 20% shareholding in the Shigatse Mine, for the general exploration and other exploration works on the Shigatse Mine; approx. 40% will be reserved to provide further financing to Xizang Shigatse (being the project company for the Shigatse Mine); and approx. 20% will be allocated to the general working capital of the group. AASTOCKS Financial News Website: www.aastocks.com |
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