Issue of Equity11 Jan 2021 16:24
A few more shares to dilute but I guess probably better than paying from cash on hand
Plus at a small premuim ( except a few for Craig of course) - I don't check here as often as I used to. Just once a day and not even in the morning.....
Cobra, the mining exploration company focused on the Wudinna Gold Project in South Australia, announces that it will issue 31,049,819 ordinary shares at a price of 2.4p per share to the vendors of Lady Alice Trust and Lady Alice Mines Pty Ltd, in accordance with the acquisition agreement through which the Company acquired, inter alia, its entitlement to earn into the Wudinna Gold Project.
Additionally, the Company announces that it will issue a further 1,333,333 ordinary shares at a price of 1.5p per share to Mr Craig Moulton upon completion of Stage 1 of the Wudinna Gold Project, in accordance with the terms of his services agreement.
An application has been made to the FCA and the London Stock Exchange for the 32,383,152 new ordinary shares (the "New Shares") of 1p each to trade on the London Stock Exchange and to be admitted to the Official List.
When issued, the New Shares will be credited as fully paid and will rank pari passu in all respects with the existing ordinary shares in the share capital of the Company, including the right to receive all dividends and other distributions declared, made or paid on or in respect of such shares after the date of issue of the New Shares.
Admission of the 32,383,152 New Shares is expected to take place at 8.00 am on 12 January 2021.