Celsius Resources (ASX:CLA) has secured firm commitments to raise $9.3 million through an institutionally backed placement.
The capital raising saw strong demand from a global pool of new and existing investors across Australia, Asia, North America, and the United Kingdom, with total interest reportedly exceeding the company’s initial targets.
The placement was structured at $0.02 per share, representing a modest 4.8% discount to the closing price on Feb. 20 and a 0.02% discount to the 30-day volume weighted average price.
Celsius also announced plans to issue bonus loyalty options to existing shareholders at a ratio of one option for every ten shares held, with a record date to be finalised following the placement’s completion.
Furthermore, company directors and consultants have committed to participating in the raise with amounts totaling $35,000, subject to shareholder approval.
The strategic injection of capital elevates the company's cash position to over $10 million.
Management stated that these funds are earmarked to accelerate the development and financing of the flagship MCB Copper-Gold Project.
Celsius aims to solidify its transition from explorer to developer, leveraging the quality and scale of its copper portfolio to meet growing global demand.
At the time of reporting, Celsius Resources’ share price was $0.021.