AI assistant
CHALICE MINING LIMITED — Capital/Financing Update 2021
Jan 14, 2021
64649_rns_2021-01-14_4a87187c-3cc7-402d-82b5-36ed28d4f28f.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
==> picture [556 x 95] intentionally omitted <==
Not for Release or Distribution in the United States
15 January 2021
Chalice upsizes strongly oversubscribed Share Purchase Plan
SPP increased to $15 million following strong demand from existing shareholders
Chalice Mining Limited (“Chalice” or “the Company”, ASX: CHN | OTCQB: CGMLF) is pleased to announce that it has successfully closed the Share Purchase Plan ( SPP ) announced on 1 December 2020.
The SPP was strongly supported by eligible shareholders and was substantially oversubscribed, with the Company receiving over 2,300 applications totalling approximately $47 million at the issue price of $3.75, being the same issue price as the successful $100 million institutional placement completed on 8 December 2020.
Given the outstanding response to the SPP, Chalice’s Board of Directors ( Directors ) has exercised its discretion under the terms of the SPP to increase the SPP offer to ~$15 million from the original $10 million targeted in recognition of the long-term support of its retail investors.
A total of ~4 million new fully-paid ordinary shares ( SPP Shares ) will be issued, representing approximately 1.2% of Chalice’s ordinary shares on issue.
The strong demand from eligible shareholders in the SPP has necessitated a scale-back of valid applications. The scaling has been determined having regard to the SPP Offer amount as a proportion of the total dollar value of valid applications.
Those eligible shareholders holding less than 124 shares (being a marketable parcel on the record date of 30 November 2020) will be allocated 135 shares.
On a pro rata basis, all remaining eligible shareholders who submitted valid applications have been allocated approximately 34% of their application amount. The effect of the scaling is set out in the table below:
| Value of Application | Value of Shares to be Issued |
No. of Shares to be Issued |
Amount to be Refunded |
|---|---|---|---|
| $2,000 | $690.00 | 184 | $1,310.00 |
| $5,000 | $1,725.00 | 460 | $3,275.00 |
| $10,000 | $3,453.75 | 921 | $6,546.25 |
| $20,000 | $6,907.50 | 1,842 | $13,092.50 |
| $30,000 | $10,361.25 | 2,763 | $19,638.75 |
The SPP Shares are expected to be issued on Thursday, 21 January 2021 and commence trading on the ASX on Friday, 22 January 2021. Holding statements are expected to be dispatched on Friday, 22 January 2021.
Chalice’s Managing Director, Alex Dorsch said: “I would like to thank our shareholders for their overwhelming support. The demand for the SPP was incredibly strong, which is testament not only to the scale and quality of our discovery at Julimar, but also its potential to become a new world-class mineral province in Western Australia.
Chalice Mining
T: +61 8 9322 3960 F: +61 8 9322 5800
[email protected] www.chalicemining.com
==> picture [14 x 12] intentionally omitted <==
==> picture [17 x 16] intentionally omitted <==
ABN 47 116 648 956 Level 2, 1292 Hay Street West Perth, Western Australia GPO Box 2890, Perth WA 6001
@chalicemining chalice-mining
“In light of the strong response, the Board made the decision to upsize the SPP by 50%, after taking into consideration our capital requirements. The combined proceeds of the recent placement and this SPP will ensure Chalice remains financially strong well into the future, with the ability to rapidly advance Julimar to the feasibility stage.”
Refund Process
The payment of refunds for scaled back applications, as well as late and invalid applications, is expected to commence on Friday, 22 January 2021.
To expedite the refund process, shareholders are encouraged to provide their nominated bank account details. If shareholders need to update or provide their nominated bank account details this can be done online at www.computershare.com.au/easyupdate/chn. Any changes to nominated bank account details need to be completed by 5.00pm (EDST), Tuesday, 19 January 2021.
If you do not provide your nominated bank account details your refund will be received via cheque.
If you do not have internet access to update your back account details or if you have any other enquiries about the SPP, please call Computershare Investor Services Pty Limited, from 8.30am to 5.00pm (EDST) Monday to Friday on 1300 850 505 (within Australia) or +61 3 9415 4000 (outside of Australia).
This announcement has been authorised for release by the Board:
==> picture [80 x 59] intentionally omitted <==
Alex Dorsch Managing Director
For further information, please visit www.chalicemining.com to view our latest corporate presentation, or contact:
Corporate Enquiries Media Enquiries Alex Dorsch Nicholas Read Managing Director Principal and Managing Director Chalice Mining Limited Read Corporate Investor Relations +61 8 9322 3960 +61 8 9388 1474 [email protected] [email protected]
Follow our communications: LinkedIn: chalice-mining Twitter: @chalicemining
Not an offer in the United States
This announcement has been prepared for publication in Australia and may not be released to US wire services or distributed in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any securities described in this announcement have not been, and will not be, registered under the US Securities Act of 1933 and may not be offered or sold in the United States except in transactions exempt from, or not subject to, registration under the US Securities Act and applicable US state securities laws.
==> picture [595 x 5] intentionally omitted <==
Chalice Mining Limited ABN 47 116 648 956
ASX: CHN | OTCQB: CGMLF Page | 2
Disclaimer
This announcement has been prepared by the Company based on information from its own and third party sources and is not a disclosure document. No party other than the Company has authorised or caused the issue, lodgement, submission, despatch or provision of this announcement, or takes any responsibility for, or makes or purports to make any statements, representations or undertakings in this announcement. Except for any liability that cannot be excluded by law, the Company and its related bodies corporate, directors, employees, servants, advisers and agents (together, “Affiliates”) disclaim and accept no responsibility or liability for any expenses, losses, damages or costs incurred by you relating in any way to this announcement including, without limitation, the information contained in or provided in connection with it, any errors or omissions from it however caused, lack of accuracy, completeness, currency or reliability or you or any other person placing any reliance on this announcement, its accuracy, completeness, currency or reliability. This announcement is not a prospectus, disclosure document or other offering document under Australian law or under any other law. It is provided for information purposes and is not an invitation nor offer of shares or recommendation for subscription, purchase or sale in any jurisdiction. This announcement does not purport to contain all the information that a prospective investor may require in connection with any potential investment in the Company. Each recipient must make its own independent assessment of the Company before acquiring any shares in the Company.
==> picture [595 x 5] intentionally omitted <==
Chalice Mining Limited ABN 47 116 648 956
ASX: CHN | OTCQB: CGMLF Page | 3