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Corella Resources Ltd ( (AU:CR9) ) has provided an update.
Corella Resources has raised $2.46 million in the first tranche of a $5 million placement to sophisticated investors, issuing 205 million new shares at $0.012 each under its existing placement capacity. The proceeds will help fund the acquisition of the Chobe Project and provide working capital to support continuing exploration and operational needs.
A second tranche of 216.67 million shares, along with free attaching options for both tranches exercisable at $0.02 and expiring in 30 months, remains subject to shareholder approval at a general meeting expected in June 2026. The company has confirmed compliance with its continuous disclosure and reporting obligations under the Corporations Act and stated there is no excluded information relevant to the new securities.
More about Corella Resources Ltd
Corella Resources Ltd is an Australian-listed resources company focused on mineral exploration and project development. The company is currently advancing the Chobe Project and uses capital raisings to fund asset acquisitions and ongoing exploration and corporate activities.
Average Trading Volume: 3,317,466
Technical Sentiment Signal: Sell
Current Market Cap: A$17.99M
For an in-depth examination of CR9 stock, go to TipRanks’ Overview page.