Consolidated Zinc Limited (ASX: CZL; “Consolidated Zinc” or “the Company”) provides an update to the fully underwritten pro-rata non-renounceable rights offer (“Offer”) to raise $2,481,127 on the basis of 1 new share (“New Share”) for every 6 shares held at the record date, an issue price of 1.1 cents per New Share.
Consolidated Zinc received the final entitlement and shortfall acceptances as follows (as amended below from the ASX announcement on 7 October 2019):
The Shortfall Shares were subscribed by the underwriter (or its nominees), Pinnacle Corporate Finance Pty Ltd in accordance with the agreement with the Company.
The New Shares will be issued on Thursday, 10th October 2019.
Following the issue of the New Shares, the issue capital of the Company will be 1,669,808,313 fully paid ordinary shares.
The Directors thank those shareholders who participated in the Offer and welcome new shareholders.
For and on behalf of the Board.
Brad Marwood
Managing Director
ABOUT CONSOLIDATED ZINC
Consolidated Zinc Limited (ASX: CZL) owns 100% of the historic Plomosas Mine, located 120km from Chihuahua City, Chihuahua State, Mexico. Chihuahua State has a strong mining sector with other large base and precious metal projects in operation within the state. Historical mining at Plomosas between 1945 and 1974 extracted over 2 million tonnes of ore grading 22% Zn+Pb and over 80g/t Ag. Only small-scale mining continued to the present day and the mineralised zones remain open at depth and along strike.
The company has recommenced mining at Plomosas and is committed to exploit the potential of the high-grade Zinc, Lead and Silver Mineral Resource through the identification, exploration and exploitation of new zones of mineralisation within and adjacent to the known mineralisation with a view to identify new mineral resources that are exploitable.
Original Article: https://www.consolidatedzinc.com.au/wp-content/uploads/2019/10/101019-Pro-Rata-Non-Renounceable-Issue-Update.pdf
