Cohiba Minerals Limited (CHK.AX) Share Purchase Plan Update
Melbourne, Australia, Dec 10, 2020 - (ABN Newswire) - Cohiba Minerals Limited (ASX:CHK) is pleased to announce that strong interest has been received to date from eligible shareholders regarding the Company's recently announced Share Purchase Plan Offer ('SPP' or 'SPP Offer').
Following this strong interest and in order for any potential refunds of oversubscriptions under the SPP that are not accepted by the Board to be processed in time for the holiday period, the Company has decided to close the SPP Offer early on 5pm (AEDT), Tuesday 15 December 2020.
Shareholders who were registered holders of CHK shares at 7:00pm AEDT on 27 November 2020 and whose registered address is in Australia or New Zealand are eligible to participate in the SPP and subscribe for up to $30,000 of shares under the SPP. Participation in the SPP is optional. No brokerage or transaction costs will be payable by participating shareholders.
Funds raised under the SPP will be applied to additional exploration activities at the Company's exploration assets with a specific focus on extending the programs of work at Horse Well (South Australia) and Pernatty C (South Australia) and investigating new IOCG targets at Lake Torrens (South Australia) and finalisation of the Mining Lease for the Pyramid Lake gypsum project (Western Australia). Some of the funding will also be applied to working capital to achieve these ends.
To view further details, please visit:
About Cohiba Minerals Limited:
Cohiba Minerals Limited (ASX:CHK) is listed on the Australian Securities Exchange with the primary focus of investing in the resource sector through direct tenement acquisition, joint ventures, farm in arrangements and new project generation. The shares of the company trade under the ticker symbol CHK.
The Company recently acquired 100% of the shares in Charge Lithium Pty Ltd, which holds exploration licences in Western Australia.
Cohiba Minerals Limited
Copyright (C) 2020 ABN Newswire. All rights reserved.