Cygnus Metals Issues 24.14 Million Shares Without Disclosure

Cygnus Metals Limited, a diversified critical minerals exploration and development company, has issued a total of 24,144,665 fully paid shares. This issuance includes 21,335,872 shares from vested performance rights and 2,888,751 from vested share rights under the company’s Employee Securities Incentive Plan and Omnibus Equity Incentive Plan.

Of these shares, 4,079,553 were issued without the required disclosure under section 708A(5) of the Corporations Act 2001 (Cth). In accordance with section 708A(6) of the Act, the company has provided a cleansing notice to inform investors. The notice states that the shares were issued without the necessary disclosure to investors under Part 6D.2 of the Act. However, the company has ensured compliance with the provisions of Chapter 2M of the Act, sections 674 and 674A, and there is no excluded information that needs to be disclosed.

Cygnus Metals is currently focused on its exploration and drill programs at the Chibougamau Copper-Gold Project in Quebec. The company is awaiting assay results from its ongoing drill program, which remains active. Cygnus plans to announce the assay results once it has completed the collation and interpretation of all data, in accordance with its continuous disclosure obligations, the JORC Code, and the ASX Listing Rules.

The company is also advancing its exploration efforts in other regions. It holds quality lithium assets in the world-class James Bay district in Quebec and has REE and base metal projects in Western Australia. Cygnus Metals has a proven track record of turning exploration success into production enterprises and creating shareholder value.