Cobre (ASX:CBE) has announced the results of its Share Purchase Plan on 19 January 2023, saying it exceeded expectations, with 212 valid applications for a total of $2,961,450 comprising a total of 19,742,938 shares.
The Board has resolved to accept the oversubscriptions and will issue shares with respect to the full amount of all valid applications received.
The shares will be issued and allotted on Friday 20 January 2023, and quotation of SPP shares is expected to commence no later than Tuesday 24 January 2023.
The Executive Chairman, Martin Holland, expressed his gratitude to the 1,645 eligible shareholders and said the additional funds would allow drilling and advanced exploration activities in the Kalahari Copper Belt (KCB) to progress at a rapid rate.