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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Cohiba Minerals Limited    CHK   AU000000CHK3

COHIBA MINERALS LIMITED

(CHK)
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Cohiba Minerals Limited (ASX:CHK) Share Purchase Plan to raise up to $2 million

11/29/2020 | 05:32pm EST

Melbourne, Australia, Nov 30, 2020 - (ABN Newswire) - Cohiba Minerals Limited (ASX:CHK) is pleased to announce it will be providing existing eligible shareholders the opportunity to participate in a capital raising via a Share Purchase Plan ("SPP") targeting $2.0 million before costs with an issue price of $0.017 (1.7 cents) per share.

Shareholders who were registered holders of CHK shares at 7:00pm AEDT on 27 November 2020 and whose registered address is in Australia or New Zealand will be eligible to participate in the SPP and subscribe for up to $30,000 of shares under the SPP. Participation in the SPP is optional. No brokerage or transaction costs will be payable by participating shareholders. Full details of the SPP will be set out in the SPP Offer Booklet which is expected to be released to ASX and dispatched to eligible shareholders on or about Wednesday 2 December 2020.

Funds raised under the SPP will be applied to additional exploration activities at the Company's exploration assets with a specific focus on extending the programs of work at Horse Well (South Australia) and Pernatty C (South Australia) and investigating new IOCG targets at Lake Torrens (South Australia) and finalisation of the Mining Lease for the Pyramid Lake gypsum project (Western Australia). Some of the funding will also be applied to working capital to achieve these ends.

The Board may, at its discretion, accept oversubscriptions subject to applicable law including compliance with the Listing Rules and ASIC Instrument 2019/547. Any oversubscription through the SPP not accepted by the Board will be scaled back on a pro rata basis, at the Board's discretion.

To view key dates, please visit:
https://abnnewswire.net/lnk/5NA6HB56

To view the Investor Presentation, please visit:
https://abnnewswire.net/lnk/XN8231O3


<b>About Cohiba Minerals Limited:</b>

Cohiba Minerals Limited (ASX:CHK) is listed on the Australian Securities Exchange with the primary focus of investing in the resource sector through direct tenement acquisition, joint ventures, farm in arrangements and new project generation. The shares of the company trade under the ticker symbol CHK.

The Company recently acquired 100% of the shares in Charge Lithium Pty Ltd, which holds exploration licences in Western Australia.

<b>Contact:</b>

Andrew Graham
CEO
admin@cohibaminerals.com.au

Copyright (C) 2020 ABN Newswire. All rights reserved., source Press Releases English

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Financials
Sales 2020 - - -
Net income 2020 -1,29 M -0,99 M -0,99 M
Net cash 2020 0,89 M 0,69 M 0,69 M
P/E ratio 2020 -4,21x
Yield 2020 -
Capitalization 61,5 M 47,5 M 47,4 M
EV / Sales 2019 -
EV / Sales 2020 -
Nbr of Employees -
Free-Float 90,6%
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Managers and Directors
NameTitle
Andrew Graham Chief Executive Officer & Executive Director
Mordechai Benedikt Executive Chairman
Nachum Labowski Non-Executive Director
Justin Mouchacca Joint Secretary
Romy Hersham Joint Secretary
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