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COPPERMOLY LIMITED — Capital/Financing Update 2013
Dec 22, 2013
64690_rns_2013-12-22_7ff724fb-6994-4a2e-93dd-b89ee53a4019.pdf
Capital/Financing Update
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ADDRESS PHONE PO Box 6965 +61(07) 5592 1001 Gold Coast Mail Centre FAX Qld 9726 Australia +61 (07) 5592 1011 EMAIL ABN 54 126 490 855 [email protected] WEBSITE www.coppermoly.com.au
Date: 23 December 2013
ASX Code: COY
Coppermoly Limited ( Coppermoly ) is pleased to advise that it has entered into a binding agreement to undertake a private placement to raise approximately $840,000.00 at an issue price of $0.016 per share (ie 1.6 cents per share) ( Placement ).
The Placement has been made to one placee, Mr Ma, a private investor who is a specialist in geological survey for coal and other minerals, and will result in Mr Ma having a relevant interest in 19.9% of Coppermoly’s shares.
The funds raised from the Placement will be used to fund exploration activity on the Company’s tenements, repay the convertible notes that are due for repayment on 21 January 2014 and other working capital requirements.
Settlement of the Placement is scheduled to occur on 31 December 2013.