Announcement Summary
Entity name
CASTILLO COPPER LIMITED
Announcement Type
New announcement
Date of this announcement Tuesday June 23, 2020
The Proposed issue is:
A placement or other type of issue
Total number of +securities proposed to be issued for a placement or other type of issueMaximum Number of
ASX +Security Code | +Security Description | +securities to be issued |
CCZAA | OPTION EXPIRING VARIOUS DATES EX VARIOUS | 104,454,545 |
PRICES | ||
CCZ | ORDINARY FULLY PAID | 95,454,545 |
Proposed +issue date | ||
Tuesday June 30, 2020 |
Refer to next page for full details of the announcementPart 1 - Entity and announcement details
1.1 Name of +Entity CASTILLO COPPER LIMITED
We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.
1.2 Registered Number Type ABN
1.3 ASX issuer code CCZ
1.4 The announcement isNew announcement
1.5 Date of this announcement Tuesday June 23, 2020
1.6 The Proposed issue is:
A placement or other type of issue
Registration Number 52137606476
Part 7 - Details of proposed placement or other issuePart 7A - Conditions
7A.1 - Are any of the following approvals required for the placement or other type of issue?+Security holder approval
Court approval
Lodgement of court order with +ASICACCC approval
FIRB approval
Another approval/condition external to the entityNo
Part 7B - Issue details
Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)?
Existing class
Details of +securities proposed to be issued
ASX +Security Code and Description
CCZ : ORDINARY FULLY PAID
Maximum Number of +securities proposed to be issued
95,454,545
Purpose of the issue
Will the proposed issue of this +security include an offer of attaching +securities?
Yes
To fund Mt Oxide exploration work and general working capital purposes
Offer price details for retail security holders
In what currency is the cash | What is the issue price per |
consideration being paid? | +security? |
AUD - Australian Dollar | AUD 0.02200 |
Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class?
Yes
Oversubscription & Scale back details
May a scale back be applied to this event?
No
Attaching +Security
Is the proposed attaching security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional +securities in a class that is already quoted or recorded by ASX)?
Existing class
Attaching +Security - Existing class (additional +securities in a class that is already quoted or recorded by ASX)
Details of attaching +securities proposed to be issued
ASX +Security Code and Description
CCZAA : OPTION EXPIRING VARIOUS DATES EX VARIOUS PRICES
Maximum Number of +securities proposed to be issued
104,454,545
Offer price details for retail security holders
In what currency is the cash consideration being paid? What is the issue price per +security?
AUD - Australian Dollar
AUD
Oversubscription & Scale back details
May a scale back be applied to this event?
No
Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class?
Yes
Part 7C - Timetable
7C.1 Proposed +issue date
Tuesday June 30, 2020
Part 7D - Listing Rule requirements
7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1?
No
7D.1b Are any of the +securities proposed to be issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1?
Yes
7D.1b ( i ) How many +securities are proposed to be issued without security holder approval using the entity's 15% placement capacity under listing rule 7.1?
104,454,545 unlisted options, expiring 30 June 2023 @ $0.05 12,935,940 ordinary shares
7D.1c Are any of the +securities proposed to be issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)?
Yes
7D.1c ( i ) How many +securities are proposed to be issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A?
82,518,605 ordinary shares
7D.1c ( ii ) Please explain why the entity has chosen to do a placement rather than a +pro rata issue or an offer under a +security purchase plan in which existing ordinary +security holders would have been eligible to participate
Due to current market volatility, the Company formed the view that a placement was superior to an entitlement offer as it could be completed faster, provided certainty over the amount to be raised with fewer compliance costs
7D.2 Is a party referred to in listing rule 10.11.1 participating in the proposed issue?
No
7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the listing rules?
No
7D.4 Will any of the +securities to be issued be subject to +voluntary escrow?
No
Part 7E - Fees and expenses
7E.1 Will there be a lead manager or broker to the proposed issue?
No
7E.2 Is the proposed issue to be underwritten?
No
7E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed issue
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Disclaimer
Castillo Copper Limited published this content on 22 June 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 June 2020 00:21:05 UTC