Cygnus Metals (TSXV: CYG) Raises AUD 18.3Mn to Advance Chibougamau Copper-Gold Project

Fri 20 Jun 25, 05:17 AM |

Highlights

Cygnus Metals Limited (ASX: CY5, TSXV: CYG, OTCQB: CYGGF) is an Australian-based mineral exploration company with a focus on critical minerals projects in Canada and Western Australia. The Company’s primary focus is on its Chibougamau Copper-Gold Project in Quebec, where it aims to establish a hub-and-spoke development model anchored by a central processing facility.

The company has secured commitments from institutional and sophisticated investors to raise approximately AUD 18.3 million (before costs) through a two-tranche share placement. The funds will be directed toward advancing exploration and development activities at the Company’s Chibougamau Copper-Gold Project in Quebec, Canada.

The capital raising will involve the issuance of 212,790,697 fully paid ordinary shares at an issue price of AUD 0.086 per share. This represents an 8.5% discount to the last closing price of AUD 0.094 on June 17, 2025, and an 11.1% discount to the 15-day volume-weighted average price (VWAP) of A$0.097.

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