InvestSMART

GCX Metals Limited (ASX:GCX)

ALERT: Price-sensitive ASX Announcement for GCX
Current share price for GCX : $0.057 0.017 (42.50%)+
Announcement
Release
19 Feb 2024 9:41AM
Price at Release
$0.040
Full Release
download
Summary
GCX Metals Limited has announced a successful placement to raise $2.1 million by issuing 60 million new ordinary shares at $0.035 each, representing a 12.5% discount to the last closing price. The placement is structured in two tranches to accommodate participation by the company's largest shareholder, Tribeca, and its directors, pending necessary approvals. The raised funds will primarily support the exploration and development of the Dante Project in Western Australia and general corporate purposes. Bell Potter Securities Limited acted as the lead manager for the placement.
Key Points
  • Placement to raise $2.1 million through issuance of 60 million shares.
  • Shares priced at $0.035 each, a 12.5% discount to the last closing price.
  • Funds to be used for the Dante Project and corporate purposes.
  • Largest shareholder Tribeca and directors participating in the placement.
  • Placement conducted in two tranches subject to shareholder approval.
  • Bell Potter Securities Limited acted as Lead Manager.
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.