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An announcement from Chilwa Minerals Ltd ( (AU:CHW) ) is now available.
Chilwa Minerals has completed the final tranche of its A$8 million private placement, issuing 1,708,527 fully paid ordinary shares at A$1.20 following shareholder approval and additional A$2.05 million in subscriptions from directors and related parties, alongside 28,146 shares issued from option exercises. With the funds received and shares allotted, the company says it is now well positioned to advance its planned activities in Malawi and is working towards an intended dual listing on Nasdaq in the first half of the year, while confirming that the newly issued securities are eligible for secondary trading under Australian Corporations Act exemptions.
More about Chilwa Minerals Ltd
Chilwa Minerals Limited (ASX: CHW) is an Australia-based resources company focused on mineral projects in Malawi, pursuing growth through capital market activities and positioning itself for broader international investor access via a prospective dual listing.
Average Trading Volume: 38,211
Technical Sentiment Signal: Sell
Current Market Cap: A$81.73M
For a thorough assessment of CHW stock, go to TipRanks’ Stock Analysis page.