Completion of Share Issues
Sydney, June 23, 2023 AEST (ABN Newswire) - Cobre Limited (
ASX:CBE) is pleased to advise that it has today issued a total of 2,510,206 shares pursuant to the subscription agreements with Mitchell Drilling Botswana Pty Ltd (Mitchells) and Remote Exploration Services (RES) as part of the second tranche of the capital raising announced to the ASX on 19 December 2022 and following the approval of shareholders (resolutions 3 and 4) at the Company's Extraordinary General Meeting held on 24 March 2023.
The 2,510,206 shares have been issued at the subscription price of AUD$0.15 per share. RES has completed the full amount of work under its subscription agreement for US$70,000 and Mitchells has completed a total of US$184,593.24 of the US$400,000 subscription amount to date.
The Company welcomes the ongoing relationship and support of both Mitchells and RES in Cobre's pursuit of unlocking significant shareholder value through its advanced exploration program in the Kalahari Copper Belt (KCB) in Botswana where Cobre holds the second largest tenement package in the KCB.
About Cobre Limited
Cobre Limited (ASX:CBE) is a copper and base-metals explorer with projects in Western Australia and Botswana. The Company recently discovered a new high-grade VMS deposit enriched in Copper, Gold, Zinc and Silver in Western Australia, and is currently exploring approximately 8,100 km2 of tenements within the Kalahari Copper Belt (KCB) in Botswana.
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