Australia's Culpeo Minerals falls after discounted placement

Culpeo Minerals

13/10/2022 03:11

** Shares of Australia's Culpeo Minerals  CPO.AX  fall as
much as 7.14% to A$0.13, their lowest since Oct 3
    ** Copper explorer announces initiation of about A$2.14 mln
($1.35 mln) equity capital raising  urn:newsml:reuters.com:*:nASX25jkYx
    ** Announces placement of A$1.1 mln at an issue price of
A$0.12 per share, a discount of 14.3% to stock's last close
    ** Announces non-renounceable entitlement offer to raise up
to A$1 mln
    ** Says capital raising to fund exploration activities at
its Lana Corina and Quelon projects in Chile
    ** Stock posts its biggest intraday pct fall since Oct 3
    ** Stock had fallen 15.1% this year, as of last close
($1 = 1.5901 Australian dollars)
 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))