#Hot Chili Limited #Australia #La Verde #Costa Fuego #Perth

Hot Chili Limited Successfully Completes A$14.1 Million Entitlement Offer

Hot Chili Limited (ASX: HCH) has announced that its entitlement offer has been fully subscribed, raising a whopping A$14.1 million. The offer, which allowed shareholders to purchase new shares at a rate of two shares for every thirteen shares held at an issue price of A$0.60, garnered substantial interest from both Australian and international shareholders, including those from Canada.

Strong Shareholder Support

CEO Christian Easterday expressed gratitude towards shareholders for their unwavering support, highlighting that this funding is a strong validation of the Costa Fuego Project. The funds raised will not only facilitate the completion of ongoing strategic partnerships but will also advance key projects including diamond drilling at the La Verde copper-gold discovery.

The La Verde project is particularly promising, as it is expected to yield a maiden mineral resource estimate with ongoing phase-two drilling. Furthermore, the company is gearing up for an exciting period of growth supported by a solid treasury and favorable copper and gold market conditions.

Fund Allocation for Future Growth

The proceeds from the offer are intended for various purposes, including;

• - Finalizing the asset-level strategic partnerships being facilitated by BMO Capital Markets
• - Continued exploration and development studies at the La Verde site
• - Essential working capital to ensure smooth operations

Following the closure of the entitlement offer on September 2, 2025, Hot Chili will allot the new shares to eligible shareholders on September 9, 2025. The company received valid applications for a total of 23,648,329 new shares, raising a total of A$14,188,997 before costs. Shareholders that were unable to get the full amount of additional shares during the shortfall facility will be refunded the excess application fees directly to their registered accounts.

Looking Ahead

With this successful round of funding, Hot Chili Limited is well-positioned to accelerate its growth and development plans. The company has ambitious goals ahead, particularly with the Costa Fuego Project being one of the few large-scale copper initiatives in the development pipeline, aiming for near-term production timelines.

The strategic positioning of the Costa Fuego project not only enhances shareholder value but also allows the company to play an integral role in addressing the growing global demand for copper and gold. Industry feedback suggests that these two metals will continue to see rising prices and demand levels, further bolstering Hot Chili's operational potential.

In conclusion, Hot Chili Limited’s recent fundraising efforts underscore the confidence that investors hold in the company. With a robust strategy in place and strong market demand for copper and gold, Hot Chili is entering an exciting phase that could significantly enhance its prospects and shareholder value.