Hot Chili Announces Successful A$5 Million Share Purchase & Plan to Close Early
Hot Chili Announces Successful A$5 Million
Share Purchase & Plan to Close Early
/NOT FOR DISTRIBUTION TO
UNITED STATES
NEWSWIRE SERVICES OR FOR
DISSEMINATION IN
THE UNITED STATES
./
Oversubscribed and Closing at 5pm AWST Tuesday 21
st
May 2024
PERTH, Australia
,
May 21, 2024
/CNW/ - Hot Chili Limited (ASX: HCH) (TSXV: HCH) (OTCQX:
HHLKF) ("Hot Chili" or the "Company") is pleased to announce 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.
Mr 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."
The revised timetable for the SPP offer is as follows:
Event
Indicative Date
SPP offer closes (5.00pm (AWST))
Tuesday, 21 May 2024
SPP results announced toASX
Monday, 27 May 2024
Issue of Shares under SPP and despatch of holding statements
Monday, 27 May 2024
Quotation of SPP Shares onASX commences
Tuesday, 28 May 2024
This announcement is authorised by the Board of Directors for release to ASX and TSXV.
Hot Chili's Managing Director and Chief Executive Officer Mr
Christian Easterday
is
responsible for this announcement and has provided sign-off for release to the ASX and
TSXV.
For more information please contact:
Christian Easterday
Managing Director – Hot Chili
Tel:
+61
8
9315
9009
Ema
.au
Penelope Beattie
Company Secretary – Hot Chili
Tel:
+61
8
9315
9009
Ema
.au
Harbor Access
Investor & Public Relations (Canada)
Email:
graham.farrell@harbor
-access.com
Email:
jonathan.paterson@harbor
-access.com
or visit Hot Chili's website at
www.hotchili.net.au
US Securities Laws
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall
there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful, including any of the securities in
the United States
. The securities have not been
and will not be registered under the 1933 Act or any state securities laws,and may not be offered or
sold within
the United States
unless registered under the 1933 Act and applicable state securities
laws, or an exemption from such registration requirements is available.
Forward Looking Statements
This news release contains certain statements that are "forward-looking information" within the
meaning of Canadian securities legislation and Australian securities legislation (each, a "forward-
looking statement"). Forward-looking statements reflect the Company's current expectations,
forecasts, and projections with respect to future events, many of which are beyond the Company's
control, and are based on certain assumptions. No assurance can be given that these expectations,
forecasts, or projections will prove to be correct, and such forward-looking statements included in
this news release should not be unduly relied upon. Forward-looking information is by its nature
prospective and requires the Company to make certain assumptions and is subject to inherent risks
and uncertainties. All statements other than statements of historical fact are forward-looking
statements. The use of any of the words "advance", "believe", "complete", "could", "create",
"estimate", "expect", "fully funded", "growth", "may", "plan", "project", "should", "will", "would",
variants of these words, and similar expressions are intended to identify forward-looking statements.
The forward-looking statements within this news release are based on information currently available
and what management believes are reasonable assumptions. Forward-looking statements speak
only as of the date of this news release. In addition, this news release may contain forward-looking
statements attributed to third-party industry sources, the accuracy of which has not been verified by
the Company.
In this news release, forward-looking statements relate, among other things, to: the ability
to complete the SPP offer.
Forward-looking statements involve known and unknown risks, uncertainties, and other factors,
which may cause the actual results, performance, or achievements of the Company to be materially
different from any future results, performance or achievements expressed or implied by the forward-
looking statements. A number of factors could cause actual results to differ materially from a
conclusion, forecast or projection contained in the forward-looking statements in this news release,
including, but not limited to, the following material factors: obtaining all regulatory approvals;
operational risks; risks related to the cost estimates of exploration; sovereign risks associated with
the Company's operations in
Chile
; changes in estimates of mineral resources of properties where
the Company holds interests; recruiting qualified personnel and retaining key personnel; future
financial needs and availability of adequate financing; fluctuations in mineral prices; market volatility;
exchange rate fluctuations; ability to exploit successful discoveries; the production at or performance
of properties where the Company holds interests; ability to retain title to mining concessions;
environmental risks; financial failure or default of joint venture partners, contractors or service
providers; competition risks; economic and market conditions; and other risks and uncertainties
described elsewhere in this news release and elsewhere in the Company's public disclosure record.
Although the forward-looking statements contained in this news release are based upon assumptions
which the Company believes to be reasonable, the Company cannot assure investors that actual
results will be consistent with these forward- looking statements. With respect to forward-looking
statements contained in this news release, the Company has made assumptions regarding: receipt
of all regulatory approvals; the risks related to the use of proceeds from the Placement; market
volatility; negative effects of dilution on the market price of the Company's ordinary shares; the
ability to obtain permits for operations; sovereign risks associated with the Company's foreign
operations; the risks related to political instability and expropriation; the uncertainty of the economic
viability and estimation of mineral resources; the future price of minerals, including gold, copper, and
silver; success of the exploration activities and the specifications, targets, results, analyses,
interpretations, benefits, costs and timing of them; currency exchange rate fluctuations; prospects,
projections and success of the Company and its projects; assumptions, limitations and qualifications
in the Costa Fuego technical report; the timing and ability of the Company to receive necessary
regulatory approvals; environmental risks; labour and employment risks; planned exploration
programs and expenditures; current conditions and expected future developments; current
information available to the management of the Company; the general business and prospects of the
Company, as well as other considerations that are believed to be appropriate in the circumstances.
The Company has included the above summary of assumptions and risks related to forward-looking
information provided in this news release to provide investors with a more complete perspective on
the Company's future operations, and such information may not be appropriate for other purposes.
The Company's actual results, performance or achievement could differ materially from those
expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can
be given that any of the events anticipated by the forward-looking statements will transpire or occur,
or if any of them do so, what benefits the Company will derive therefrom.
For additional information with respect to these and other factors and assumptions underlying the
forward-looking statements made herein, please refer to the public disclosure record of the
Company, including the Company's most recent Annual Report, which is available on SEDAR+ (
www.sedarplus.ca)
under the Company's issuer profile. New factors emerge from time to time, and
it is not possible for management to predict all those factors or to assess in advance the impact of
each such factor on the Company's business or the extent to which any factor, or combination of
factors, may cause actual results to differ materially from those contained in any forward-looking
statement.
The forward-looking statements contained in this news release are expressly qualified by the
foregoing cautionary statements and are made as of the date of this news release. Except as may
be required by applicable securities laws, the Company does not undertake any obligation to publicly
update or revise any forward-looking statement to reflect events or circumstances after the date of
this news release or to reflect the occurrence of unanticipated events, whether as a result of new
information, future events or results, or otherwise. Investors should read this entire news release
and consult their own professional advisors to ascertain and assess the income tax and legal risks
and other aspects of an investment in the Company.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this news release. No stock exchange, securities commission or other regulatory
authority has approved or disapproved the information contained herein.
SOURCE
Hot Chili Limited
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http://www.newswire.ca/en/releases/archive/May2024/21/c2233.html
%SEDAR: 00053528E
CO: Hot Chili Limited
CNW 07:34e 21-MAY-24