Celsius Resources secures $3.3m funding commitment

Celsius Resources has secured AU$3.3 million via a placement to new and existing shareholders, including institutional investors. The placement, oversubscribed, signals investor confidence in the company's strategy and projects, including the MCB project. New shares are priced at AU$0.008 with a free-attaching option (exercise price of AU$0.01, expiring in three years) for every two shares. The capital raising will occur in two tranches: the first tranche, worth ~AU$1.7 million, is scheduled to settle on March 18, 2025; the second tranche, ~AU$1.6 million, is subject to shareholder approval in April 2025. Celsius' affiliate, Makilala Mining Company, Inc., recently signed an agreement with the Philippines' sovereign wealth fund, Maharlika Investment Corporation, for a US$76.4 million bridging loan facility.