ASX/AIM RELEASE
19
SEPTEMBER 2024
Silvercorp Subscription
Agreement
Celsius Resources Limited
("CLA", "Celsius" or the
"Company") (ASX, AIM:CLA)
is pleased to advise that substantial shareholder,
Silvercorp Metals Inc., ("SVM" or "Silvercorp") (TSX: SVM, NYSE:
SVM) has exercised its participation right in relation to the
equity particpation and committed equity faciltiy agreements
announced on 16 September 2024.
As announced on 15 May
2023[1], 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 Agreements, the Company
and Silvercorp have executed a binding subscription agreement to
raise a further A$183,667 (before costs) ("Subscription
Agreement").
Pursuant to the Subscription
Agreement, Silvercorp has agreed to subscribe for 14,693,419 new
Celsius shares at a subscription price of A$0.0125
("Subscription Shares") (being
the same price at which shares will be issued to Patras under the
Share Placement Agreement), and 918,339 new Celsius shares at a
deemed issue price of A$0.01 per Implementation Fee Share
("Implementation Fee
Shares") (being the same deemed price at which shares will
be issued to Patras under the Committed Equity Facility Agreement),
together with 3,673,355 Options exercisable at A$0.025 each and
expiring 3 years from the date of issue ("Subscription Options").
The Subscription Shares,
Implementation Fee Shares and Subscription Options will be issued
under the Company's existing placement capacity under ASX Listing
Rules 7.1.
Settlement is expected to occur on
or around 30 September 2024. Application will also be made for the
Subscription Shares and the Implementation Fee 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 30 September 2024.
Proceeds from the Silvercorp
subscription will be applied towards advancing the Company's project portfolio, including the
funding of future development expenditure on its Sagay and Botilao
projects, along with other exploration targets in the Philippines,
and to support corporate functions.
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.