The equity raising of $15 million will be completed in two tranches, with tranche two requiring shareholder approval and a further $3.26m to be offered to Hawke’s Point pursuant to its existing top-up right under its Subscription Agreement with the company.
Immediately subsequent to the completion of tranche one of the placement, Mark Clark and Mark Okeby will be appointed to the Board as Executive Chairman and a Non-Executive Director, respectively and Mr Doug Jendry will step down from Non-Executive Chairman to Non-Executive Director.
Looks like things are starting to happen for CMM and the cash from this capital raising will certainly move the Karlawinda Gold Project ahead.
The next six months will be an interesting time for Capricorn Resources.
