Invest Daily Pro
  • Economy
  • Investing
No Result
View All Result
  • Economy
  • Investing
No Result
View All Result
Invest Daily Pro
No Result
View All Result
Home Investing

WCN Raises A$14.4M at an Average 29% Premium to Market Close

by Invest Daily Pro
May 19, 2025
in Investing
0
WCN Raises A$14.4M at an Average 29% Premium to Market Close
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

White Cliff Minerals Limited (“WCN” or the “Company”) (ASX: WCN; OTCQB: WCMLF) is pleased to announce it has received firm commitments to raise approximately A$14.4m (before costs) through the issue of 384,615,398 new, fully paid ordinary shares in the Company. Utilising the “flow-through shares” provisions under Canadian tax law 307,692,321 shares will be issued at an issue price of A$0.0403 per share representing a 38.9% premium to WCN’s last trading price of A$0.029 (14 May 2025) for a total of A$12.40m (Flow-Through). Additionally, the Company has received firm commitments to raise $2 million (before costs) through a share placement to new and existing sophisticated and professional investors (Placement). 76,923,077 shares will be issued under the Placement at $0.026 per share, being a 10.3% discount to the Company’s last closing price before trading halt.

  • Capital raise cornerstoned by the Company’s Strategic Advisor, John Hancock and his private family office, Astrotricha Capital SEZC.
  • The capital raise was significantly oversubscribed and the Company received investment from a number of new Australian, United Kingdom, Hong Kong and Singaporean financial institutions as well as existing institutional and sophisticated shareholders
  • Funds will be used to expand and accelerate drilling and exploration activities at the Company’s Rae Copper Project with drilling set to recommence from mid-July
  • Drilling activities will include both reverse circulation and diamond drilling, providing the Company flexibility in its targeting approach
  • Aerial and downhole geophysics are to be undertaken to further refine drill targets across the Rae Copper Project
  • Following encouraging visual results, the Company expects to update shareholders on further assays results for holes 5, 6 and 7 at Danvers, expected to be received over the coming weeks

”The successful completion of this capital raise is a testament to the quality of our Rae Copper Project and the confidence that investors have in our exploration strategy. The ability to access the less dilutive flow through funds at a circa 40% premium is a huge advantage and value accretive for shareholders. Further, John Hancock and his Astrotricha Capital Family Office cornerstone position in the raise, along with the support of other high net worth investors introduced by Astrotricha, reflects their shared vison for the future of WCN and underpins the Company’s development plans for the Rae Copper Project.

The outlook for copper prices remains robust and the Company is poised to ramp up exploration efforts as we capitalise on its strong financial position following this raise, in addition to the ongoing conversion of WCNO options. Following recent high-grade results, this upcoming drilling at Danvers will lay the foundation for a maiden exploration target at the project over the coming period. We are very excited about the potential to delineate a material resource around the immediate drilling area at Danvers and to potentially encompass additional deposits along the regional 7km + strike.

In parallel, drilling will commence at the major sedimentary hosted copper target at Hulk. The pre collars that we have completed at Hulk sit only about 50mtrs above the target horizon and with diamond rigs planned to arrive in the coming months at which time we plan to drill all project areas and deliver on the potential for an additional major copper discovery at our Rae Project.”

Troy Whittaker – Managing Director

“Starting out as a Strategic Advisor to WCN with an initial invested stake, I have now become the Company’s largest shareholder and am pleased to see another well executed and strongly supported capital raise at a premium to the share price. The WCN focus has been on minimising existing shareholder dilution whilst attracting strategic investor capital to accelerate exploration and at the same time, securing the Company’s financial position for the longer term. There is now global investor interest in WCN’s prospects and I look forward to further upcoming drill results.”

John Hancock – Strategic Advisor to WCN

Click here for the full ASX Release

This post appeared first on investingnews.com

ShareTweetPin

Related Posts

Top 5 Canadian Mining Stocks This Week: Adyton Sparkles with 97 Percent Gain
Investing

Top 5 Canadian Mining Stocks This Week: Adyton Sparkles with 97 Percent Gain

May 31, 2025
NVIDIA Rallies After Strong Q1, AI Demand Outshines China Export Hit
Investing

NVIDIA Rallies After Strong Q1, AI Demand Outshines China Export Hit

May 31, 2025
CDX May Investor Presentation
Investing

CDX May Investor Presentation

May 30, 2025
Trump’s Nuclear Revival Plan Boosts Uranium Prices, Sends US Miners Soaring
Investing

Trump’s Nuclear Revival Plan Boosts Uranium Prices, Sends US Miners Soaring

May 30, 2025
Fintech Firm Velocity Raises US$10 Million for Enterprise Stablecoin Infrastructure
Investing

Fintech Firm Velocity Raises US$10 Million for Enterprise Stablecoin Infrastructure

May 29, 2025
Platinum Price Breaks Out as Chinese Demand and Global Shortfalls Ignite Rally
Investing

Platinum Price Breaks Out as Chinese Demand and Global Shortfalls Ignite Rally

May 29, 2025
Next Post
Emerging Stocks to Watch – Breakouts, Momentum & Upgrades!

Emerging Stocks to Watch – Breakouts, Momentum & Upgrades!

Recommended

Kickstart Ventures to fund up to five startups in 2025

Kickstart Ventures to fund up to five startups in 2025

January 2, 2025
“Integrate UK’s Theatre Boy Film Aims to Raise Awareness of Knife Crime – Chatham House Pre-Screening on October 24th, YouTube Release on November 8th”

“Integrate UK’s Theatre Boy Film Aims to Raise Awareness of Knife Crime – Chatham House Pre-Screening on October 24th, YouTube Release on November 8th”

October 22, 2024
Quezon City plans to amend Incentives Code

Quezon City plans to amend Incentives Code

August 22, 2024
Aboitiz InfraCapital to expand airport assets

Aboitiz InfraCapital to expand airport assets

November 26, 2024
Movement of healthy hogs being planned for ASF ‘red zones’

Movement of healthy hogs being planned for ASF ‘red zones’

August 19, 2024
PHINMA Corp. faces 63% earnings slump

PHINMA Corp. faces 63% earnings slump

August 7, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 InvestDailyPro. All Rights Reserved.

    Disclaimer: InvestDailyPro.com, its managers, its employees, and assigns (collectively InvestDailyPro ) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    No Result
    View All Result
    • About us
    • Contact us
    • Home
    • Privacy Policy
    • Suspicious engagement
    • Terms & Conditions
    • Terms & Conditions
    • Thank you

    Copyright © 2024 investdailypro.com | All Rights Reserved