Hot Chili Closes A$5 Million Share Purchase Plan Early Due to Strong Demand

Highlights

Hot Chili offered AUD$5 million shares at a 20% discount to the stock price at the time of announcement.
Due to strong demand the offering window is closing three day early.
Raising the full allotment in almost half the time, signals strong market belief in what Hot Chili is building and the need for additional high-grade sources of copper worldwide.

Hot Chili Limited (ASX: HCH) (TSXV: HCH) (OTCQX: HHLKF) announced that due to overwhelming support of the Company’s Share Purchase Plan (“SPP”), it has decided to close the SPP at 5.00pm (AWST) today, Tuesday, 21 May 2024. The Company will apply the scale-back conditions accordingly as per the terms set out in the offer document for the SPP dated 10 May 2024. Applications for over A$5 million have been received from eligible shareholders under the SPP.

Christian Easterday, CEO and Managing Director of Hot Chili, said:

The Board of Hot Chili would like to thank all participating shareholders in the SPP, which received overwhelming support. We look forward to delivering on our next key milestones, which look to position Hot Chili as a leading, large-scale, near-term, copper developer at the beginning of a new and super-charged copper cycle. The Company looks forward to making further announcements as we accelerate our growth and development plans with a strong treasury of approximately A$35 million and copper price at all-time highs.Christian Easterday, CEO & Managing Director, Hot Chili Ltd.

The revised timetable for the SPP offer is as follows:

Hot Chili is a Marketing Awareness Client of Capital 10x. For more details please see our disclosures.

Duane Hope

Duane Hope is a Partner at Capital 10X, he brings over 15 years of communications and research experience to the firm. His research and writing have appeared in publications for North American, European and Asian audiences.