Celsius Resources' Silvercorp Subscription Agreement

Celsius Resources Limited (ASX, AIM:CLA) has announced that substantial shareholder, Silvercorp Metals Inc., has exercised its participation right in relation to the equity participation and committed equity facility agreements, raising a further A$183,667 through a binding subscription agreement. The Subscription Agreement includes the subscription for new Celsius shares, Implementation Fee Shares, and Subscription Options, with settlement expected around 30 September 2024.

Executive Commentary on Silvercorp Subscription Agreement

The proceeds from the Silvercorp subscription will be utilized to advance the Company's project portfolio, fund future development expenditure on its projects, and support corporate functions. This agreement demonstrates Silvercorp's continued confidence in Celsius Resources and its projects, providing the Company with the necessary financial support to progress its strategic initiatives.

Summary of Silvercorp Subscription Agreement

Celsius Resources Limited (ASX, AIM:CLA) has successfully secured A$183,667 through the Silvercorp Subscription Agreement, demonstrating Silvercorp's commitment to the Company's future. The funds raised will be directed towards advancing the Company's project portfolio, funding future development expenditure, and supporting corporate functions. The Subscription Agreement reflects Silvercorp's confidence in Celsius Resources and its strategic direction, providing the Company with the financial means to execute its plans and drive growth.