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Cygnus Metals Limited (ASX:CY5)

ALERT: Price-sensitive ASX Announcement for CY5
Current share price for CY5 : $0.130 0.036 (38.30%)+
Announcement
Release
20 Jun 2025 9:18AM
Price at Release
$0.094
Full Release
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Summary
On 11 April 2024, Cygnus Metals Limited (ASX:CY5) announced the successful completion of an A$18.3 million placement to institutional and sophisticated investors, which will primarily fund the advancement of the Pontax Lithium Project in Quebec, Canada. The placement received strong support from both existing and new investors and was conducted at a 16% discount to the last closing price. The raised capital will be used for exploration, drilling, metallurgical tests, environmental studies, and general working capital, positioning the company to progress its lithium exploration and development initiatives. Canaccord Genuity and Euroz Hartleys acted as Joint Lead Managers for the placement.
Key Points
  • Cygnus Metals Limited (ASX:CY5) has successfully raised A$18.3 million through a two-tranche placement to institutional and sophisticated investors.
  • The placement was strongly supported by new and existing domestic and offshore institutional investors.
  • Funds raised will be used primarily to advance exploration and development of the Pontax Lithium Project in Quebec, Canada.
  • The Pontax Lithium Project is a highly prospective lithium asset with significant potential for further growth.
  • Proceeds will also be used for regional exploration, resource drilling, metallurgical test work, environmental studies, and general working capital.
  • The placement was conducted at A$0.21 per share, representing a 16% discount to the last closing price.
  • Canaccord Genuity and Euroz Hartleys acted as Joint Lead Managers to the Placement.
  • Cygnus Metals is focused on advancing its battery metals portfolio, particularly in lithium exploration and development.
  • The company continues to prioritize value creation through strategic project development and exploration success.
  • The successful funding positions Cygnus Metals to execute its growth strategy and unlock the value of its lithium assets.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.