(MENAFN - ABN Newswire)
Cobalt Blue Holdings Limited (ASX:COB) (the Company or Cobalt Blue) is pleased to announce it has received firm commitments from investors for a share placement to raise gross proceeds of $1,687,000.
Under the offer 8,435,000 new fully paid ordinary shares will be issued at a price of $0.20 per share and allotted by the Company.
The Placement was managed by lead broker Blue Ocean Equities Pty Limited, and shares are being placed to new and existing shareholders. The Shares are to be issued under the Company's available 15% capacity under ASX Listing Rule 7.1. Capital raised will be applied to help fund the current drilling programme and to provide additional working capital. The share allotment is expected to occur by 14 December 2018 and an ASX Appendix 3B will then be lodged with ASX.
Joe KaderavekChief Executive OfficerCobalt Blue Holdings LimitedPh: +61-2-8287-0660Website: www.cobaltblueholdings.comEmail: