Business
Hot Chili Closes A$40 Million Private Placement to Accelerate Next Leg of Growth for Costa Fuego Copper-Gold Project, Coastal Chile
Hot Chili Limited (ASX: HCH) (TSXV: HCH) (OTCQX: HHLKF) ("Hot Chili" or the "Company") is pleased to announce that it has closed its previously announced placement (the "Placement") of shares to institutional, professional, and other investors consisting of the issue of 24,242,425 new fully paid ordinary shares ("Shares") at an offer price of A$1.65 (C$1.56) per Share for aggregate gross proceeds of approximately A$40 million.
About this update from Hot Chili Limited
[{"type":"text","content":"PERTH, Australia, Feb. 13, 2026 /CNW/ - Hot Chili Limited (ASX: HCH) (TSXV: HCH) (OTCQX: HHLKF) ("Hot Chili" or the "Company") is pleased to announce that it has closed its previously announced placement (the "Placement") of shares to institutional, professional, and other investors consisting of the issue of 24,242,425 new fully paid ordinary shares ("Shares") at an offer price of A$1.65 (C$1.56) per Share for aggregate gross proceeds of approximately A$40 million.","length":510,"tagName":"p"},{"type":"text","content":"The Placement is intended to support Costa Fuego's position as one of the few globally significant copper projects not controlled by major mining companies, with the potential to contribute substantially to new copper supply this decade.","length":241,"tagName":"p"},{"type":"text","content":"Veritas Securities Limited, ATB Cormark Capital Markets and Desjardins Capital Markets acted as joint lead managers ("JLMs") and BMO Capital Markets, as a co-manager (together with the JLMs, the "Agents"), to the Placement.","length":243,"tagName":"p"},{"type":"text","content":"Hot Chili's Managing Director Christian Easterday said:","length":84,"tagName":"p"},{"type":"text","content":""We are very happy to have our three largest shareholders (Glencore, Blue Spec and GS Group) participate in the private placement, which was oversubscribed and strongly supported by Australian, North American and overseas institutional investors.","length":251,"tagName":"p"},{"type":"text","content":""The Company is now well funded to lift Costa Fuego's scale and economics through the integration of our third major coastal copper-gold discovery (La Verde) and secure the Projects timing for near-term production through the submission of an environmental impact assessment this year.","length":294,"tagName":"p"},{"type":"text","content":""We look forward to strong news flow ahead across drilling, corporate and development workstreams."","length":109,"tagName":"p"},{"type":"text","content":"Details of the Placement","length":39,"tagName":"p"},{"type":"text","content":"The Placement was completed (i) under an offer to investors who qualify as institutional, professional and sophisticated investors for the purposes of se...