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    cobalt investing

    Blackstone To Raise Capital In Placement And Share Purchase Plan

    Pia Rivera
    Sep. 14, 2020 08:47AM PST
    Australia Investing
    ASX:BSX

    Blackstone Minerals Limited (ASX code: BSX) is pleased to announce it has received firm commitments from sophisticated, professional and institutional investors to raise up to a total of $17.8M (before costs) through a placement of 42,426,356 fully paid ordinary shares (shares) at an issue price of $0.42 per share (the Placement).

    Blackstone Minerals Limited (ASX:BSX) is pleased to announce it has received firm commitments from sophisticated, professional and institutional investors to raise up to a total of $17.8M (before costs) through a placement of 42,426,356 fully paid ordinary shares (shares) at an issue price of $0.42 per share (the Placement).

    Highlights:

    • Fidelity International to cornerstone the capital raise with an $8M investment;
    • Blackstone will undertake a placement of 42,426,356 shares at an issue price of $0.42 to sophisticated and professional investors to raise gross proceeds of up to $17.8M;
    • Blackstone to offer Share Purchase Plan to Eligible Shareholders to raise $3M

    Blackstone Minerals’ Managing Director Scott Williamson commented:

    “We’re excited to welcome new long term institutional investors to our register and the opportunity to raise $21 Million for Blackstone to support the ongoing exploration, resource drilling and future studies at the Ta Khoa Project”.

    Additionally, in recognition of the Company’s existing retail shareholders, eligible shareholders will have the opportunity to participate in a Share Purchase Plan at the same issue price per share of $0.42 (SPP).

    The Company intends to raise $3,000,000 under the SPP through the issue of 7,142,857 shares. The Company reserves the right to accept oversubscriptions under the SPP.

    The issue price for the Placement and the SPP represents a 14% discount to the volume weighted average price of the shares traded on the ASX during the 10 trading days on which sales in the shares were recorded immediately prior to the date of this announcement.

    Source

    cobalt investingasx:bsx
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