Hot Chili Limited (AU:HCH) has released an update.
Hot Chili Limited is set to raise A$29.9 million through a private placement of new shares, priced at an approximate 20% discount to the recent closing price, to fund various company initiatives including studies and exploration activities. The capital raised will expedite the company’s growth and development of their Costa Fuego copper-gold project, aiming to maintain their strategic funding flexibility. The placement also seeks to enhance trading liquidity on the TSX Venture Exchange while keeping the project independently owned.
For further insights into AU:HCH stock, check out TipRanks’ Stock Analysis page.
