China Natural Resources, Inc. Announces Registered Direct Placement Of $3.27M Of 1,487,870 Common Shares And Private Placement Warrants At A Price Of $2.20/Unit
Portfolio Pulse from Benzinga Newsdesk
China Natural Resources, Inc. (CHNR) has announced a registered direct placement of $3.27 million of common shares at $2.20 per share and a concurrent private placement of warrants. The offering includes 1,487,870 common shares and warrants exercisable for up to 1,115,903 shares at $3.00 each, with a 42-month term. The net proceeds will be used for general working capital purposes, with the offering's completion expected around February 21, 2024. FT Global Capital, Inc. served as the exclusive placement agent.
February 16, 2024 | 2:30 pm
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CHNR announces a $3.27M direct share placement at $2.20/share and a private placement of warrants, aiming to boost working capital.
The direct placement and issuance of warrants by CHNR indicate a proactive approach to strengthen its financial position, likely appealing to investors. The use of proceeds for working capital suggests an investment in the company's growth and operational efficiency. However, the dilutive effect of issuing new shares and warrants could temper the positive impact on the stock price in the short term.
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