Cyprium Metals (ASX:CYM) has received confirmation from the Australian Securities Exchange (ASX) that its securities will be reinstated to quotation following the voluntary suspension on 23 February 2023.
Subject to the satisfaction of certain conditions, reinstatement will now occur following completion of a proposed capital raising, comprising a placement, of which firm commitments for $24 million have been received, and a pro rata non‐renounceable rights issue to raise up to an additional $5 million.
The company says to avoid any potential delays with reinstatement, a transaction specific prospectus for the entitlement offer will now be lodged during the notice period for the general meeting where all approvals in relation to the capital raising will be sought.
The entitlement offer opens 23 August 2023 and will close for acceptances on 7 September 2023
The entitlement offer opens 23 August 2023 and will close for acceptances on 7 September 2023.
Cyprium is an ASX listed Australian copper company with a vision to become a significant mid-tier copper producer with a multi–asset strategy set to capitalise on the global electrification thematic.
The company’s strategy is to acquire, develop, operate, and explore mineral resource projects using modern responsible methods to minimise environmental impact and optimise resource recovery and utilisation.
Cyprium has projects in the Paterson and Murchison regions of Western Australia that are host to multiple base metals deposits.