ASX/AIM RELEASE
18
APRIL 2024
Celsius signs Binding Subscription
Agreement with Silvercorp Metals raising a further
£117,317
Celsius Resources Limited
("CLA", "Celsius" or the
"Company") (ASX, AIM:CLA)
refers to its announcement of 15 April 2024 in
relation to the successful completion of the AIM placement raising
gross proceeds of approximately £922,000 (before costs)
("Placement").
The Company is pleased to advise
that substantial shareholder, Silvercorp Metals Inc.,
("SVM" or "Silvercorp") (TSX: SVM, NYSE:
SVM) has exercised its participation right to participate in the
Placement on equivalent terms to other subscribers in the
Placement[1]. As announced on 15 May 2023,
the Company agreed to give Silvercorp a reasonable opportunity to
participate in future equity offers on equivalent terms to other
subscribers for a period of two years and provided Silvercorp's
relevant interest in Celsius does not fall below 10%.[2]
To give effect to Silvercorp's
election to participate in the Placement, the Company and
Silvercorp have executed a binding subscription agreement to raise
a further £117,317 (before costs) under the Placement
("Subscription Agreement").
Pursuant to the Subscription
Agreement, Silvercorp has agreed to subscribe for 19,552,752 new
Celsius shares ("Subscription
Shares") at a subscription price of
£0.006 (being the same price at which shares were issued to other
participants in the Placement), together with one (1)
free-attaching unlisted Warrant for every one (1) Subscription
Share subscribed for ("Subscription
Warrants"). The Subscription
Warrants are exercisable at £0.009 each and expire on 31 December
2026.
The Subscription Shares and
Subscription Warrants will be issued under the Company's existing
placement capacity under ASX Listing Rules 7.1 and 7.1A, as
follows:
·
19,552,752 Subscription Shares under Listing Rule
7.1A; and
·
19,552,752 Subscription Warrants under Listing
Rule 7.1.
Settlement is expected to occur on
or around 19 April 2024. Application will also be made for the
Subscription Shares, which rank pari passu with all existing
ordinary shares in the Company, to be admitted to trading on AIM,
with the date of admission expected to be on or around 25 April
2024.
Proceeds from the Silvercorp
subscription will be applied towards:
·
Early development works at the MCB Copper-Gold
Project;
·
Permitting costs at the Sagay Copper-Gold
Project;
·
Exploration costs at the Botilao Copper-Gold
Prospect; and
·
General working capital.
This announcement has been authorised by the Board of
Directors of Celsius Resources Limited.
Celsius Resources Contact
Information
Level 5, 191 St. Georges
Terrace
Perth WA 6000
PO Box 7059
Cloisters Square PO
Perth WA 6850
P: +61 2 8072 1400
E: info@celsiusresources.com.au
W: www.celsiusresources.com
Beaumont Cornish Limited ("Beaumont Cornish") is the Company's
Nominated Adviser and is authorised and regulated by the FCA.
Beaumont Cornish's responsibilities as the Company's Nominated
Adviser, including a responsibility to advise and guide the Company
on its responsibilities under the AIM Rules for Companies and AIM
Rules for Nominated Advisers, are owed solely to the London Stock
Exchange. Beaumont Cornish is not acting for and will not be
responsible to any other persons for providing protections afforded
to customers of Beaumont Cornish nor for advising them in relation
to the proposed arrangements described in this announcement or any
matter referred to in it.