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Chalice Mining: Raises $15M in oversubscribed SPP

January 16, 2021

Chalice Mining (CHN) has closed its oversubscribed share purchase plan (SPP) and raised $15 million
In early December, Chalice revealed it would undertaking a $110 million capital raise consisting of a $100 million placement and $10 million SPP
Then the company received $47 million in applications and, given this response, decided to increase the SPP to $15 million
Shares expected to issued on January 21 and begin trading on the ASX on January 22
Chalice will also use the funds to accelerate exploration and development activities at its Julimar nickel-copper-platinum group element (PGE) project in WA
Chalice has ended the day 2.53 per cent in the red with shares trading at $4.24