Hot Chili Limited's recent funding and underwriting announcement

Hot Chili Limited (ASX: $HCH) has successfully closed a private placement, raising approximately A$24.9 million. The placement, aimed at institutional, professional, and other investors, involved the issuance of 24,900,000 new fully paid ordinary shares at an offer price of A$1.00 per share. The proceeds from this placement, combined with the Share Purchase Plan (SPP) offer, will provide funding for the completion of the Costa Fuego Pre-Feasibility Study, Water Supply Business Case Study, environmental impact assessment, as well as ongoing exploration, drilling, and consolidation activities.

Executive commentary on the recent funding and underwriting

The successful closure of the private placement and full underwriting of the SPP offer mark a significant milestone for Hot Chili Limited. The funding secured will play a crucial role in advancing our key projects, particularly the Costa Fuego Pre-Feasibility Study and exploration activities. We are pleased with the strong support received from institutional, professional, and other investors, reflecting confidence in our strategic initiatives and the potential of our projects.

Summary of Hot Chili Limited's recent announcement

Hot Chili Limited (ASX: $HCH) has closed a A$24.9 million private placement and fully underwritten the A$5 million Share Purchase Plan offer. The proceeds from these initiatives will provide funding for the completion of the Costa Fuego Pre-Feasibility Study, Water Supply Business Case Study, environmental impact assessment, and ongoing exploration activities. The company's ability to secure this funding demonstrates a strong investor confidence in its projects and strategic direction. With the funding in place, Hot Chili is well-positioned to advance its near-term copper production and achieve its operational goals.