Cobre Limited (CBE.AX) Completion of A$90M Institutional Capital Raise

Sydney, Oct 2, 2026 AEST (ABN Newswire) - Cobre Limited (ASX:CBE) announced, following the approval of shareholders at the Extraordinary General Meeting (EGM) held on 28 September 2026, the completion of the capital raising announced to ASX on 9 July 2026, pursuant to which the Company raised a total of A$90m (prior to costs) at a price of AUD$0.30 per share (Capital Raise).

Under the second tranche of the Capital Raise, Cobre has today issued shares to the Company's two largest shareholders, Tribeca Investment Partners and Strata Investment Holdings PLC as well as the Company's directors, for a total of approximately A$17.7m.

Funds raised will be used towards:

- Payment as part of Project level capital to increase Cobre's ownership in the Sierra Atacama Copper Mine in the Antofagasta Region of Northern Chile;

- Repayment of Debt;

- Plant upgrade and other development costs for Sierra Atacama;

- Exploration activities at Sierra Atacama including Resource, near-mine and high-grade sulphide drilling;

- Regional Exploration at Sierra Atacama;

- Activities at the Company's Botswana Projects; and

- Working capital and costs of the Capital Raise.

Commenting on the Completion of the Capital Raise, Cobre's Executive Chairman, Martin Holland, said:

"We are appreciative of the strong support from our shareholders in this Capital Raise which allows the Company to fast track the execution of activities in both Chile and Botswana that the Board believes will deliver significant value for shareholders in the future.

With a robust balance sheet, Cobre is able to work diligently towards executing on a number of key near term catalysts. Since taking over control of the Sierra Atacama Mine in March, we believe that this asset presents a Company making opportunity for Cobre as we have shown in recent months in the solid transition from explorer to copper producer. We are also excited by the significant exploration upside across our Chilean asset package in a region known for major copper discoveries."

About Cobre Limited

Cobre Limited (ASX:CBE) is a global copper company focused on high-margin production and tier-1 exploration across two of the world's premier mining jurisdictions: the Atacama region in Chile and the Kalahari Copper Belt (KCB) in Botswana. By combining an operating asset at the Sierra Atacama Mine with a dominant, belt-scale landholding in the KCB, Cobre offers a unique, de-risked investment case that spans the entire copper value chain—from near-term cathode production to world-class discovery potential. Cobre's strategic portfolio includes the newly acquired Sierra Atacama Mine in Chile, located in the heart of the world's most prolific copper-producing district, alongside a massive 5,348km2 landholding in Botswana.

   

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