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Home CVMR News Mining firm’s rights offering to start May 15

Mining firm’s rights offering to start May 15

Author: CVMR®
Date of publication: 07.05.2007
Reading time: 3 min.
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  1. Mining firm’s rights offering to start May 15

Mining firm’s rights offering to start May 15

Mining firm’s rights offering to start May 15 - Geograce


07 May 2007, Manila, Philippines

Mining firm Geograce Resources Philippines Inc. announced the start of its "one offer share for every three-and-a-half shares held" stock rights offering on May 15, 2007 up to May 21.

The firm said in a statement that shareholders as of the record date of May 3, 2007 are eligible to participate in the rights offer which is priced at P1.00 per share.

Geograce is offering 560.47 million common shares to raise up to P560 million which will be used to fund its project development program, exploration costs, asset acquisitions, and additional working capital, among others.

The rights offer shares are expected to be listed at the Philippine Stock Exchange on May 25, 2007.

The firm is engaged in mining, particularly in tenement acquisition and management, with presence in Zambales, Palawan, and Bukidnon.

Its strategic partners include Australian company Rusina Mining NL and Canadian mining and metal refining firm Chemical Vapour Metal Refining Inc.

The Company has also engaged JP Morgan as its financial adviser for possible capital raising activities, along with strategic advisory on cross-border mergers and acquisitions.

Geograce recently executed an offtake agreement and confidentiality agreement with Chemical Vapour Metal Refining Inc. wherein Geograce will supply, sell and deliver nickel ore produced at its mines in Bukidnon to CVMR®.

"Geograce shall use all reasonable endeavors to commence production of the product at the property on or before 1 January 2009," Cabrera said.

The offtake agreement shall take effect upon its execution and shall remain in force until Geograce has supplied all of the nickel ore on the property to CVMR®, unless earlier terminated by mutual agreement of the parties.

Geograce said CVMR® is a privately held corporation based on Toronto, Canada, engaged in mining, metal refining and vapour metallurgy process development. It has extensive investments in fully-integrated nickel and cobalt assets worldwide.

Geograce also signed a new memorandum of agreement with Garnierite Mining Inc. to acquire 100 percent of Garnierite or its mining rights over the nickel property in Malaybalay, Bukidnon.

Answers to your questions

  • What does CVMR do?

    CVMR refines metals using vapor metallurgy and produces high-purity powders and components for various industries.

  • What metals does CVMR work with?

    CVMR works with over 30 metals, including nickel, cobalt, lithium, rare earth elements, gold, silver, and copper.

  • Who uses CVMR’s products?

    CVMR’s products are used in aerospace, automotive, electronics, medical devices, energy storage, and defense.

  • What is vapor metallurgy?

    It’s a process where metals are vaporized and purified to produce ultra-pure materials with precise control.

  • Is CVMR eco-friendly?

    Yes, CVMR uses sustainable methods like recycling metals, reducing CO₂, and turning methane into graphene.

  • Where is CVMR located?

    CVMR is based in Toronto, Canada, and operates in over 20 countries globally.

  • Who are CVMR’s clients?

    Clients include Pratt & Whitney, U.S. Mint, Virgin Galactic, Barrick Gold, and the U.S. Department of Energy.

  • Does CVMR make battery materials?

    Yes, CVMR supplies lithium, nickel, cobalt, manganese, and vanadium for electric vehicle and storage batteries.

  • What is CVMR’s role in graphene?

    CVMR converts CO₂ and methane into high-quality graphene for electronics, energy, and advanced material use.

  • How do I contact CVMR?

    Visit https://cvmr.ca or email [email protected] for business inquiries and more information.

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