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Cooper Metals Limited (ASX:CPM)

ALERT: Price-sensitive ASX Announcement for CPM
Current share price for CPM : $0.069 0.001 (1.47%)+
Announcement
Release
16 Oct 2026 9:21AM
Price at Release
$0.068
Full Release
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Summary
Cooper Metals Limited’s Entitlement Issue Prospectus dated 16 October 2026 outlines a fully underwritten capital raising centred on a pro-rata non-renounceable entitlement issue of one new share for every four existing shares at $0.075 per share, with one free attaching unlisted option for every four new shares subscribed, to raise up to approximately $2.695 million before costs; the prospectus also includes separate option offers to the underwriter, placement participants and joint lead managers, each subject to shareholder approval. The entitlement issue is open to eligible shareholders in Australia and New Zealand, closes at 5:00pm WST on 4 November 2026, and is intended primarily to fund existing projects, the Chalterra Project, Chalterra acquisition costs, offer expenses and working capital. The document notes the offer is fully underwritten by Veritas Securities Limited, with Veritas and Prenzler Group acting as joint lead managers, and explains the expected capital structure changes, including an increase in shares on issue to 179,679,003 assuming full take-up. It highlights that non-participating shareholders may face dilution, that the securities are speculative, and sets out key company, operational, regulatory and mining-sector risks relevant to Cooper Metals’ exploration business in Australia and the Philippines.
Key Points
  • Prospectus dated 16 October 2026 for Cooper Metals Limited (ASX: CPM).
  • Main offer is a pro-rata non-renounceable entitlement issue of 1 new share for every 4 existing shares.
  • Issue price is $0.075 per new share.
  • Eligible subscribers receive 1 free attaching unlisted option for every 4 new shares subscribed.
  • Entitlement issue aims to raise approximately $2,695,185 before costs.
  • Offer is fully underwritten by Veritas Securities Limited.
  • Veritas Securities Limited and Prenzler Group Pty Ltd are joint lead managers.
  • Entitlement issue closes at 5:00pm WST on 4 November 2026.
  • Eligible shareholders are those registered at the record date with addresses in Australia or New Zealand.
  • Cooper Metals had also announced a placement of 28,748,640 shares at $0.075 each, with attaching options on a 1-for-4 basis.
  • Participants in the placement are eligible to participate in the entitlement issue.
  • Approximately 35,935,801 new shares may be issued under the entitlement issue.
  • Approximately 8,983,950 new options may be issued under the entitlement issue.
  • Additional offers include 6,000,000 options to the underwriter, 7,187,160 options to placement participants and 4,000,000 options to joint lead managers, all subject to shareholder approval.
  • New options are unlisted, exercisable at $0.15 and expire three years from issue.
  • Funds raised are intended for existing projects, the Chalterra Project, Chalterra acquisition costs, offer expenses and working capital.
  • Planned use of funds includes $400,000 for existing projects and $800,000 for the Chalterra Project.
  • Planned use of funds includes $750,000 for acquisition costs of the Chalterra Project.
  • Estimated expenses of the placement and offers are $360,000.
  • On full completion, shares on issue are expected to increase to 179,679,003.
  • On full completion and subject to approvals, options on issue are expected to increase to 61,376,131.
  • The prospectus states there is no minimum subscription under the offers.
  • Any shortfall may be allocated under a shortfall offer, but no party may be issued shares that take voting power above 19.99%.
  • The company states the offer is not expected to have a material effect on control of the company.
  • Shareholders who do not participate may be diluted by about 20%, excluding any future option exercises.
  • The securities are described as speculative and subject to exploration, tenure, regulatory, funding and market risks.
  • The company’s projects and risks include operations in Queensland, Western Australia and the Philippines.
  • The prospectus includes an unaudited pro forma statement of financial position based on 30 June 2026.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.