Kincora Copper completes prospectus for proposed listing on the Australian Securities Exchange
Kincora Copper completes prospectus for
proposed listing on the Australian Securities
Exchange
VANCOUVER, BC
,
March 1, 2021
/CNW/ - Kincora Copper Ltd. (the "Company", "Kincora") (TSXV:
KCC), is pleased to announce that it has lodged a Prospectus with the Australian Securities and
Investments Commission ("ASIC") in relation to its proposed dual listing on the Australian Securities
Exchange ("ASX").
Mines and Money TV - With Kincora Copper's (TSXV:KCC) focus having pivoted to Australia in the
last 12 months, today they have announced a dual listing onto the ASX. We hear from CEO Sam
Spring about their plans for the next 6-12 months and what sets Kincora apart from its peers.
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Under the Prospectus, the Company proposes to raise a minimum of
A$8,000,000
and a maximum
of
A$10,000,000
(in each case, before costs), by the issue of CHESS Depositary Interests ("CDIs")
over fully paid ordinary shares in the capital of the Company ("Shares") ("the Offer"). A minimum of
40,000,000 CDIs and a maximum of 50,000,000 CDIs will be issued, at an issue price of
A$0.20
per
CDI. The CDIs will be issued at a ratio of 1 CDI for 1 Share.
Kincora's chairman
Cameron McRae
commented:
"In the Board's view the ASX is the natural stock
exchange for the Company, with Kincora's primary focus and value drivers now related to our
Lachlan Fold Belt ("LFB") assets in NSW,
Australia
, where we seek to become the leading pure
play explorer in what is
Australia's
foremost copper porphyry belt.
Our assets and team are better known in this domestic market and by dual listing on the ASX we
are seeking to access previously untapped local investors who have significant interest in funding
local exploration projects.
We consider the listing will be positive for the future of the Company including for raising capital,
liquidity and market valuation. "
Sam Spring
, President & CEO, stated: "
The Company plans to drill a minimum of over 17,000
metres across three projects in the LFB in the next 12 months as part of a minimum of 34,000
metres total drilling program, significantly expanding our ongoing drilling program that comprises
two rigs currently operational at the Trundle project.
With an enterprise value of
C$11.5 million
for the Offering that certainly provides investors very
significant leverage to exploration success and pipeline of news flow."
Morgans Corporate Limited and Bridge Street Capital Limited have been appointed Joint Lead
Managers and Ernst & Young appointed Australian legal advisor. The Offer is expected to open on
March 11
th
, 2021 with the expected commencement of trading on the ASX to be on or around
March
30
th
, 2021.
The Company in consultation with the Joint Lead Managers will determine the allocation of CDIs
under the Offer.
About Kincora Copper Limited
(KCC – TSXV)
Kincora Copper is an active explorer and project generator focused on world-class copper-gold
discoveries.
The Company is currently drilling the only brownfield project (Trundle) held by a listed junior in
Australia's
foremost porphyry belt (the Macquarie Arc, in NSW), with district scale project pipeline,
and seeking to confirm its position as the leading pure play porphyry explorer in
Australia
.
The Company has assembled an industry leading technical team who have made multiple Tier 1
copper discoveries, who have "skin in the game" equity ownership and who are backed by a strong
institutional shareholder base.
Our exploration model applies a robust systematic approach utilising modern exploration techniques
supporting high-impact, value add programs underpinned by targets with strong indications for world-
class scale potential.
We have corporate offices in
Vancouver
and
Melbourne
. Kincora is listed on the TSX Venture
Exchange under the ticker symbol KCC and is seeking a dual listing on the ASX.
Forward-Looking Statements
Certain information regarding Kincora contained herein may constitute forward-looking statements
within the meaning of applicable securities laws. Forward-looking statements may include estimates,
plans, expectations, opinions, forecasts, projections, guidance or other statements that are not
statements of fact. Although Kincora believes that the expectations reflected in such forward-looking
statements are reasonable, it can give no assurance that such expectations will prove to have been
correct. Kincora cautions that actual performance will be affected by a number of factors, most of
which are beyond its control, and that future events and results may vary substantially from what
Kincora currently foresees. Factors that could cause actual results to differ materially from those in
forward-looking statements include market prices, exploitation and exploration results, continued
availability of capital and financing and general economic, market or business conditions. The
forward-looking statements are expressly qualified in their entirety by this cautionary statement. The
information contained herein is stated as of the current date and is subject to change after that date.
Kincora does not assume the obligation to revise or update these forward-looking statements,
except as may be required under applicable securities laws.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities in
the United States
,
Canada
or any other country. The securities have not been and will
not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities
Act"), or any state securities laws and may not be offered or sold within
the United States
or to or
for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act)
unless registered under the U.S. Securities Act and applicable state securities laws or an exemption
from such registration is available.
In accordance with section 734(6) of the Australian Corporations Act 2001 (Cth), the Company
advises in respect of the offer of CDIs under the Prospectus:
The issuer of the Offer Shares is Kincora Copper Limited. ARBN 645 457 763.
The Prospectus is available online at
www.kincoracopper.com
or
www.kincora-exposure.prd.au.thereachagency.com
, or by contacting the Company by email at
.
The offer of the CDIs will only be made in, or accompanied by, a copy of the Prospectus.
A person should consider the Prospectus in deciding whether to acquire CDIs.
Any person who seeks to acquire CDIs must complete a subscription form to be provided with a
copy of the Prospectus on request by email to
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 release.
SOURCE
Kincora Copper Limited
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%SEDAR: 00003952E
For further information:
Sam Spring, President and Chief Executive Officer,
[email protected] or +61431 329 345
CO: Kincora Copper Limited
CNW 06:30e 01-MAR-21