Australia's Coolabah Metals jumps on deal to acquire Canadian lithium properties

Broken Hill Mines

02/05/2023 03:26

** Shares of Coolabah Metals  CBH.AX  surge as much as 56.3%
to A$0.150; set to mark their best session ever, if gains hold
    ** Stock hits highest level since Feb. 20
    ** The mineral explorer enters into an agreement to acquire
four highly prospective lithium exploration properties in
Quebec, Canada
    ** Co receives firm commitments to raise A$1,000,000 
($663,200.00) via a placement of 10,000,000 shares
    ** Issue price of A$0.10 per share represents a premium of
4.2% to CBH's closing price on April 27
    ** More than 1.6 mln shares have changed hands, compared
with the 30-day average of about 150,000 shares 
    ** As of last close, CBH stock down ~40% YTD
    



($1 = 1.5078 Australian dollars)

 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))