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Hot Chili (ASX:HCH) has successfully closed a $11.3 million private placement with key major shareholders and other sophisticated investors via an offering of unsecured convertible notes.
Hot Chili (ASX:HCH) has been granted a trading halt by the ASX, pending an update concerning exploration activities and financing.
Hot Chili Ltd (ASX:HCH) has successfully closed the second tranche of a $4.4 million two tranche placement to sophisticated and institutional investors. Following approval from shareholders as per standard procedure, the second tranche of shares priced at $0.05 were issued. Hot Chili is testing a number of large-scale copper porphyry targets at its Productora copper-gold project in Chile. The company is also evaluating a new gold opportunity to the south of Productora, the historical Sierra Zapallo high-grade gold deposit.
Local explorers Hot Chili and Orinoco Gold have raised a combined $9 million from investors to fund ongoing work at their respective projects.
Hot Chili Ltd (ASX:HCH) has been granted a trading halt by the ASX, pending details about financing. The halt will remain in place until the opening of trade on Friday 24th June 2016, or earlier if an announcement is made to the market.