REG - Celsius Resources Ld - Silvercorp Subscription

Celsius ResourcesAnnouncement

19/12/2024 09:00

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RNS Number : 7528Q  Celsius Resources Limited  19 December 2024

 

ASX/AIM RELEASE

19 DECEMBER 2024

 

Silvercorp Subscription Agreement

 

 

 

Celsius Resources Limited ("CLA", "Celsius" or the "Company") (ASX, AIM:CLA)
refers to its announcement of 11 December 2024 in relation to the successful
completion of the AIM placement raising gross proceeds of approximately
£350,000 (before costs) ("AIM Placement").

 

The Company is pleased to advise that substantial shareholder, Silvercorp
Metals Inc., ("SVM" or "Silvercorp") (TSX: SVM, NYSE: SVM) has exercised its
participation right in relation to the AIM Placement. As announced on 15 May
2023 1  (#_ftn1) , the Company agreed to give Silvercorp a reasonable
opportunity to participate in future equity offers on equivalent terms to
other subscribers for a period of two years and provided Silvercorp's relevant
interest in Celsius does not fall below 10%. 2  (#_ftn2) To give effect to
Silvercorp's election to participate in the Agreements, the Company and
Silvercorp have executed a binding subscription agreement to raise a further
£42,855 (before costs) ("Subscription Agreement").

 

Pursuant to the Subscription Agreement, Silvercorp has agreed to subscribe for
10,713,951 new Celsius shares at a subscription price of £0.004
("Subscription Shares") (being the same price at which shares will be issued
under the AIM Placement), and 5,356,976 unlisted warrants exercisable at
£0.005 each and expiring on 31 December 2026 ("Subscription Warrants").

 

The Subscription Shares and Subscription Warrants will be issued under the
Company's existing placement capacity under ASX Listing Rules 7.1.

Settlement is expected to occur on or around 20 December 2024. Application
will also be made for the Subscription Shares and the Implementation Fee
Shares, which rank pari passu with all existing ordinary shares in the
Company, to be admitted to trading on AIM, with the date of admission expected
to be on or around 20 December 2024.

 

Proceeds from the Silvercorp Subscription Agreement will be applied towards
progressing the Company's corporate and operational strategy, and will be
applied towards general working capital.

 

This announcement has been authorised by the Board of Directors of Celsius
Resources Limited.

Celsius Resources Contact Information

Level 5, 191 St. Georges Terrace

Perth WA 6000

 

PO Box 7059

Cloisters Square PO

Perth WA 6850

 

P: +61 2 8072 1400

E: info@celsiusresources.com.au (mailto:info@celsiusresources.com.au)

W: www.celsiusresources.com (http://www.celsiusresources.com)

 

 Celsius Resources Limited
 Mark van Kerkwijk                                                   P: +61 8 9324 4516

                                                                     E: info@celsiusresources.com.au (mailto:info@celsiusresources.com.au)

                                                                     W: www.celsiusresources.com (http://www.celsiusresources.com)
 Multiplier Media

 (Australia Media Contact)                                           M: +61 402 075 707

 Jon Cuthbert                                                        E: jon.cuthbert@multiplier.com.au (mailto:jon.cuthbert@multiplier.com.au)

 Beaumont Cornish Limited

 (Nominated Adviser)                                                 P: +44 (0) 207 628 3396

 Roland Cornish/Felicity Geidt/Andrew Price                          E: corpfin@b-cornish.co.uk (mailto:corpfin@b-cornish.co.uk)

 Zeus Capital Limited

 (Broker)                                                            P:+44 (0) 20 7220 1666

 Harry Ansell/James Joyce/James Bavister

 

 

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it.

 1  (#_ftnref1) For further information refer to the Company's ASX
Announcement of 15 May 2023 titled 'Celsius Resources signs Non-Binding Term
Sheet with Silvercorp Metals Inc. for proposed acquisition of Celsius
Resources and firm subscription by Silvercorp Metals to raise A$5 million'.

 2  (#_ftnref2) Subject at all times to the ASX Listing Rules and any policy
or guidance published or notified by ASX from time to time.

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