ASX/AIM RELEASE
19
DECEMBER 2024
Silvercorp Subscription
Agreement
Celsius Resources Limited
("CLA", "Celsius" or the
"Company") (ASX, AIM:CLA)
refers to its announcement of 11 December 2024 in
relation to the successful completion of the AIM placement raising
gross proceeds of approximately £350,000 (before
costs) ("AIM Placement").
The Company is pleased to advise
that substantial shareholder, Silvercorp Metals Inc.,
("SVM" or "Silvercorp") (TSX: SVM, NYSE:
SVM) has exercised its participation right in relation to the AIM
Placement. As announced on 15 May 2023[1], the
Company agreed to give Silvercorp a reasonable opportunity to
participate in future equity offers on equivalent terms to other
subscribers for a period of two years and provided Silvercorp's
relevant interest in Celsius does not fall below 10%.[2] To give effect to Silvercorp's election to
participate in the Agreements, the Company and Silvercorp have
executed a binding subscription agreement to raise a further
£42,855 (before costs) ("Subscription
Agreement").
Pursuant to the Subscription
Agreement, Silvercorp has agreed to subscribe for 10,713,951 new
Celsius shares at a subscription price of £0.004
("Subscription Shares") (being
the same price at which shares will be issued under the AIM
Placement), and 5,356,976 unlisted warrants exercisable at £0.005
each and expiring on 31 December 2026 ("Subscription Warrants").
The Subscription Shares and
Subscription Warrants will be issued under the Company's existing
placement capacity under ASX Listing Rules 7.1.
Settlement is expected to occur on
or around 20 December 2024. Application will also be made for the
Subscription Shares and the Implementation Fee Shares, which rank
pari passu with all existing ordinary shares in the Company, to be
admitted to trading on AIM, with the date of admission expected to
be on or around 20 December 2024.
Proceeds from the Silvercorp
Subscription Agreement will be applied towards progressing the Company's corporate and operational strategy,
and will be applied towards general working capital.
This announcement has been authorised by the Board of
Directors of Celsius Resources Limited.
Celsius Resources Contact
Information
Level 5, 191 St. Georges
Terrace
Perth WA 6000
PO Box 7059
Cloisters Square PO
Perth WA 6850
P: +61 2 8072 1400
E: info@celsiusresources.com.au
W: www.celsiusresources.com
Beaumont Cornish Limited ("Beaumont Cornish") is the Company's
Nominated Adviser and is authorised and regulated by the FCA.
Beaumont Cornish's responsibilities as the Company's Nominated
Adviser, including a responsibility to advise and guide the Company
on its responsibilities under the AIM Rules for Companies and AIM
Rules for Nominated Advisers, are owed solely to the London Stock
Exchange. Beaumont Cornish is not acting for and will not be
responsible to any other persons for providing protections afforded
to customers of Beaumont Cornish nor for advising them in relation
to the proposed arrangements described in this announcement or any
matter referred to in it.