{"id":17862,"date":"2025-05-19T05:54:07","date_gmt":"2025-05-19T05:54:07","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2025\/05\/19\/wcn-raises-a14-4m-at-an-average-29-premium-to-market-close\/"},"modified":"2025-05-19T05:54:07","modified_gmt":"2025-05-19T05:54:07","slug":"wcn-raises-a14-4m-at-an-average-29-premium-to-market-close","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2025\/05\/19\/wcn-raises-a14-4m-at-an-average-29-premium-to-market-close\/","title":{"rendered":"WCN Raises A$14.4M at an Average 29% Premium to Market Close"},"content":{"rendered":"<\/p>\n

White Cliff Minerals Limited<\/strong> (\u201cWCN\u201d or the \u201cCompany\u201d) (ASX: WCN; OTCQB: WCMLF) is pleased to announce it has received firm commitments to raise approximately A$14.4m (before costs) through the issue of 384,615,398 new, fully paid ordinary shares in the Company. Utilising the \u201cflow-through shares\u201d provisions under Canadian tax law 307,692,321 shares will be issued at an issue price of A$0.0403 per share representing a 38.9% premium to WCN\u2019s last trading price of A$0.029 (14 May 2025) for a total of A$12.40m (Flow-Through). Additionally, the Company has received firm commitments to raise $2 million (before costs) through a share placement to new and existing sophisticated and professional investors (Placement). 76,923,077 shares will be issued under the Placement at $0.026 per share, being a 10.3% discount to the Company\u2019s last closing price before trading halt. <\/p>\n

Capital raise cornerstoned by the Company\u2019s Strategic Advisor, John Hancock and his private family office, Astrotricha Capital SEZC.
\nThe capital raise was significantly oversubscribed and the Company received investment from a number of new Australian, United Kingdom, Hong Kong and Singaporean financial institutions as well as existing institutional and sophisticated shareholders
\nFunds will be used to expand and accelerate drilling and exploration activities at the Company\u2019s Rae Copper Project with drilling set to recommence from mid-July
\nDrilling activities will include both reverse circulation and diamond drilling, providing the Company flexibility in its targeting approach
\nAerial and downhole geophysics are to be undertaken to further refine drill targets across the Rae Copper Project
\nFollowing encouraging visual results, the Company expects to update shareholders on further assays results for holes 5, 6 and 7 at Danvers, expected to be received over the coming weeks<\/p>\n

\u201dThe successful completion of this capital raise is a testament to the quality of our Rae Copper Project and the confidence that investors have in our exploration strategy. The ability to access the less dilutive flow through funds at a circa 40% premium is a huge advantage and value accretive for shareholders. Further, John Hancock and his Astrotricha Capital Family Office cornerstone position in the raise, along with the support of other high net worth investors introduced by Astrotricha, reflects their shared vison for the future of WCN and underpins the Company\u2019s development plans for the Rae Copper Project.<\/em><\/p>\n

The outlook for copper prices remains robust and the Company is poised to ramp up exploration efforts as we capitalise on its strong financial position following this raise, in addition to the ongoing conversion of WCNO options. Following recent high-grade results, this upcoming drilling at Danvers will lay the foundation for a maiden exploration target at the project over the coming period. We are very excited about the potential to delineate a material resource around the immediate drilling area at Danvers and to potentially encompass additional deposits along the regional 7km + strike.<\/em><\/p>\n

In parallel, drilling will commence at the major sedimentary hosted copper target at Hulk. The pre collars that we have completed at Hulk sit only about 50mtrs above the target horizon and with diamond rigs planned to arrive in the coming months at which time we plan to drill all project areas and deliver on the potential for an additional major copper discovery at our Rae Project.\u201d<\/em><\/p>\n

Troy Whittaker \u2013 Managing Director <\/strong><\/em><\/p>\n

\u201cStarting out as a Strategic Advisor to WCN with an initial invested stake, I have now become the Company\u2019s largest shareholder and am pleased to see another well executed and strongly supported capital raise at a premium to the share price. The WCN focus has been on minimising existing shareholder dilution whilst attracting strategic investor capital to accelerate exploration and at the same time, securing the Company\u2019s financial position for the longer term. There is now global investor interest in WCN\u2019s prospects and I look forward to further upcoming drill results.\u201d<\/em><\/p>\n

John Hancock \u2013 Strategic Advisor to WCN<\/em><\/strong><\/em><\/strong><\/strong><\/em><\/p>\n<\/p>\n

Click here for the full ASX Release<\/strong><\/p>\n<\/p>\n

This post appeared first on investingnews.com<\/div>\n","protected":false},"excerpt":{"rendered":"

White Cliff Minerals Limited (\u201cWCN\u201d or the \u201cCompany\u201d) (ASX: WCN; OTCQB: WCMLF) is pleased to announce it has received firm commitments to raise approximately A$14.4m (before costs) through the issue of 384,615,398 new, fully paid ordinary shares in the Company. Utilising the \u201cflow-through shares\u201d provisions under Canadian tax law 307,692,321 shares will be issued at […]<\/p>\n","protected":false},"author":0,"featured_media":17863,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-17862","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/17862","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=17862"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/17862\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/17863"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=17862"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=17862"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=17862"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}