Marimaca Copper Corp. Sets Stage for ASX Listing with Prospectus
Marimaca Copper Corp. Moves Forward with ASX Listing
Marimaca Copper Corp. is excited to announce the lodgment of a prospectus with the Australian Securities and Investments Commission (ASIC) for its planned listing on the Australian Securities Exchange (ASX). This strategic move marks a significant step for the Company, allowing it to tap into a broader investor base and enhance its financial strategy.
Details of the ASX Listing
The newly filed prospectus details the offering of one hundred common shares, represented as CHESS Depository Interests (CDIs), at an issue price of A$6.00 each. This offering aims to raise gross proceeds of A$600. Importantly, each CDI corresponds to one underlying share in the Company, ensuring a clear connection between investors and Marimaca's equity. The offering is set to open on around February 4, and close on February 11.
Funding Goals and Use of Proceeds
The net proceeds from this initiative will primarily support Marimaca's general working capital, which includes partially covering the costs associated with the offering. Remarkably, the Company maintains the discretion to allocate CDIs based on its judgment, which allows for strategic distribution among applicants.
Regulatory Approvals and Market Conditions
This dual listing will proceed contingent on receiving regulatory approvals and favorable market conditions. Investors are encouraged to be aware that the offer is exclusively available to those invited by the Company, specifically those with a registered address in Australia.
Expert Commentary from Company Leadership
Hayden Locke, President & CEO of Marimaca Copper Corp., expressed enthusiasm regarding this development: "As we advance towards a critical construction decision for the Marimaca Oxide Deposit, our requirement for a wider capital pool becomes increasingly vital. We believe this dual listing on the ASX will further enhance the robust support we have already gained from our existing TSX shareholder base."
Development Strategy and Future Projects
Locke further elaborated on the Company’s development strategy, revealing their ongoing work on the Definitive Feasibility Study (DFS) for the Marimaca project, which is progressing well. Anticipations of further clarity on project timelines are expected to arise by the end of the month, coinciding with initial feedback from regulatory authorities.
About Marimaca Copper Corp.
Marimaca Copper Corp. specializes in copper exploration and development. The Company is focused on its flagship Marimaca Copper Project, which is fully owned and located in the renowned Antofagasta Region of Chile. The project hosts an IOCG-type copper deposit known as the Marimaca Oxide Deposit (MOD).
Exploration and Growth Potential
Alongside the ongoing DFS, Marimaca is actively exploring an extensive land package that spans over 15,000 hectares in the Antofagasta region, including the promising Sierra de Medina property block, situated just 25km from the MOD.
Contact Information
For more information about Marimaca Copper Corp. and the ASX listing, investors can visit the Company’s website or reach out via the contact details provided below.
Tavistock
+44 (0) 207 920 3150
Emily Moss / Ruairi Miller
marimaca@tavistock.co.uk
Frequently Asked Questions
What is the purpose of the prospectus lodged by Marimaca?
The prospectus is lodged for Marimaca's proposed listing on the ASX, enabling the Company to raise capital through the offering of CDIs.
How many common shares are being offered?
The Company is offering one hundred common shares in the form of CHESS Depository Interests (CDIs).
What is the expected timeline for the ASX listing process?
The offer is expected to open around February 4, close on February 11, and trading on the ASX is anticipated to commence on March 13.
What will be the use of proceeds from the ASX listing?
The proceeds will primarily be utilized for general working capital and to cover associated offering costs.
Who can participate in the CDI offering?
The offer is only open to investors with a registered address in Australia and who are invited by the Company.
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