Cassini Resources Limited (ASX: CZI) ('Cassini' or the 'Company') is pleased to announce the exercise of 12,250,000 unlisted options held by the Directors and key management personnel of the Company.
This option exercise provides $820,750 of funding to the Company.
The option exercise includes a $234,000 cash investment from Managing Director Mr Richard Bevan, $221,000 from Chief Operations Officer Greg Miles, $134,000 from Non-executive Chairman Mr Mike Young, and $67,000 each from Non-Executive Directors Dr Jon Hronsky and Mr Phil Warren.
Cassini Managing Director, Mr Richard Bevan, said 'It is a strong sign of support for the Company that all of the Board and key management have decided to exercised their share options. It demonstrates the confidence that we have in value of Cassini going forward and our commitment to delivering for all shareholders.'
The Company will apply for quotation of the shares shortly. This announcement is authorised for release by Richard Bevan, Managing Director of the Company.
Notice Under Section 708A
The Company gives this notice pursuant to Section 708A(5)(e) of the Corporations Act 2001 (Cth) (Corporations Act).
The Company today issued 12,250,000 fully paid ordinary shares without disclosure to option holders under Part 6D.2 of the Corporations Act.
The Company, as at the date of this notice, has complied with: a) the provisions of Chapter 2M of the Corporations Act and b) section 674 of the Corporations Act.
There is no excluded information as at the date of this notice, for the purposes of Section 708A(7) and (8) of the Corporations Act.
Contact:
Richard Bevan
Tel: +61 8 6164 8900
Email: admin@cassiniresources.com.au
About the Company
Cassini Resources Limited (ASX: CZI) is a base and precious metals developer and explorer based in Perth. In April 2014, Cassini acquired its flagship West Musgrave Project (WMP), located in Western Australia. The Project is a new mining camp with three existing nickel and copper sulphide deposits and a number of other significant regional exploration targets already identified. The WMP is the largest undeveloped nickel - copper project in Australia.
In August 2016, Cassini entered into a three-stage $36M Farm-in/Joint Venture Agreement with prominent Australian mining company OZ Minerals Ltd (ASX: OZL). The Joint Venture provides a clear pathway to a decision to mine and potential cash flow for Cassini. Cassini is also progressing its Mt Squires Gold Project (CZI 100%), and the Yarawindah Brook Nickel - Copper - Cobalt Project (CZI 80%), both located in Western Australia.
CASSINI RESOURCES LIMITED 