Celsius Resources (ASX:CLA) has secured firm commitments for $9.3 million through a placement from both new and existing shareholders and institutional investors in Australia, Asia, North America, and the UK.
The company notes that the demand for the placement was in excess of the funds originally sought.
The new shares have been subscribed at a price of $0.02 per share, issued with one free-attaching option for every two shares subscribed at an exercise price of $0.035 and expiring three years from the date of issue.
The placement will take place in two tranches, with the first tranche raising $9.265 million through the issuance of 463.2 million shares under the ASX listing rule 7.1. Tranche one will settle on 27 February 2026.
The conditional second tranche amounts to $35,000 and is subject to shareholder approval at a general meeting in late March or early April 2026 and is comprised of director and consultant participation.
Funds raised through this placement will be used for general working capital in 2026 including payments to advisors and consultants for the financing of the Maalinao-Caigutan-Biyog (MCB) Project in The Philippines.
Celsius notes that the capital raising strongly positions the company to progress development and financing of MCB with over $10 million in cash on hand.
Interim Non-Executive Chairman Peter Hume says that Celsius is very pleased with the success of the placement.
“The strong demand reflects growing confidence in the quality of the MCB Copper-Gold Project and our broader copper portfolio,” Hume says.
“This raise strengthens our balance sheet and positions us to advance MCB financing, prepare for early project works, and maintain compliance across our portfolio as we move toward final funding.”
Evolution Capital acted as sole lead manager and bookrunner for the placement, with Zeus Capital supporting the placement.
Celsius Resources is a multi-asset copper and gold company with a portfolio of projects in the Philippines.
Write to Amy Rotman at Mining.com.au
Images: Celsius Resources
