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LONDON - Cobra Resources PLC (LSE: COBR), a mineral exploration and development company, announced the successful passing of resolutions at its General Meeting held earlier today, which will allow the company to proceed with its planned share issuance. The resolutions are a pivotal step in the development of Cobra’s Boland Project in South Australia, known for its potential in ionic Rare Earth Elements.
The approved resolutions will enable the allotment and issue of the Tranche 2 Conditional Placing Shares and the Tranche 2 Placing Shares, pending the publication of a secondary prospectus, which is currently under review by the Financial Conduct Authority (FCA). The company’s next steps include the publication of the prospectus and the application for the shares’ admission to trading.
Details of the resolutions and the voting outcomes are available on Cobra’s investor relations website. The company will make a further announcement once the prospectus is published and the application for trading is submitted. This move represents a significant advancement for the Boland Project and Cobra’s strategic growth.
The information disclosed is based on a press release statement from Cobra Resources PLC.
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