13 September 2017
MINREX COMPLETES RIGHTS ISSUE- $539,142 (before costs) was raised through a 2 for 3 non-renounceable Rights Issue at $0.05 per new share issued.
- Proceeds to be used for further exploration work on the Company's two tenements; due diligence, deal negotiation costs and shareholder and regulatory approvals for new corporate opportunities; plus additional working capital to fund the Company's ongoing costs.
- Directors will seek to place the 17,568,246 shortfall shares.
MinRex Resources Limited (MinRex or the Company) (ASX: MRR) is pleased to announce it has completed its Rights Issue, raising $539,142 (before costs) see attached Appendix 3B. The Directors will seek to place the shortfall shares.
The monies raised will provide additional working capital to fund the Company's exploration program on its existing projects; due diligence on possible asset acquisitions as well as working capital and to fund the costs of the Offer.
The Board would like to thank its shareholders for their support of MinRex's activities and with the completion of the rights issue, we can continue exploration activities at our two tenements as well as identifying new corporate opportunities to drive shareholder wealth.
For all enquiries, please contact:
Simon Durack Executive Chairman MinRex Resources Limited P: +61 (0) 8 9486 8806E: simondurack@minrex.com.au
MinRex Resources Limited ACN 151 185 867
LinQ House
Level 1, 17 Ord Street West Perth WA 6005
P: +61 8 9486 8806 F: +61 9321 3559
Appendix 3B New issue announcement
Appendix 3BRule 2.7, 3.10.3, 3.10.4, 3.10.5
New issue announcement, application for quotation of additional securities and agreementInformation or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.
Introduced 01/07/96 Origin: Appendix 5 Amended 01/07/98, 01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05, 01/08/12, 04/03/13
Name of entity |
MinRex Resources Limited (Company) |
ABN |
81 151 185 867 |
We (the entity) give ASX the following information.
Part 1 - All issuesYou must complete the relevant sections (attach sheets if there is not enough space).
1 | +Class of +securities issued or to be issued | Fully paid ordinary shares (Shares). |
2 | Number of +securities issued or to be issued (if known) or maximum number which may be issued | 10,782,844 Shares issued under an entitlement acceptance for a non- renounceable Rights Issue to Eligible Shareholders (Rights Issue). |
3 | Principal terms of the +securities (e.g. if options, exercise price and expiry date; if partly paid +securities, the amount outstanding and due dates for payment; if +convertible securities, the conversion price and dates for conversion) | Fully paid ordinary shares. |
+ See chapter 19 for defined terms.
04/03/2013 Appendix 3B Page 1
Appendix 3B
New issue announcement
4 | Do the +securities rank equally in all respects from the +issue date with an existing +class of quoted +securities? If the additional +securities do not rank equally, please state:
| Yes, the shares rank equally in all respects from the date of issue with the existing quoted fully paid ordinary shares of the Company. |
5 | Issue price or consideration | $0.05 per share. |
6 | Purpose of the issue (If issued as consideration for the acquisition of assets, clearly identify those assets) | The Rights Issue provides funding to support further exploration work at the Company's Deflector Extended tenement in Western Australia and its Heemskirk tenement in Tasmania. In addition, the funds will also assist with due diligence, deal negotiation costs, shareholder & regulatory approvals required for new corporate opportunities and additional working capital for ongoing costs together with funding the costs of the Offer. |
6a | Is the entity an +eligible entity that has obtained security holder approval under rule 7.1A? If Yes, complete sections 6b - 6h in relation to the +securities the subject of this Appendix 3B, and comply with section 6i | No |
6b | The date the security holder resolution under rule 7.1A was passed | N/A |
+ See chapter 19 for defined terms.
Appendix 3B Page 2 04/03/2013
Appendix 3B New issue announcement
6c | Number of +securities issued without security holder approval under rule 7.1 | 10,782,844 |
6d | Number of +securities issued with security holder approval under rule 7.1A | N/A |
6e | Number of +securities issued with security holder approval under rule 7.3, or another specific security holder approval (specify date of meeting) | N/A |
6f | Number of +securities issued under an exception in rule 7.2 | N/A |
6g | If +securities issued under rule 7.1A, was issue price at least 75% of 15 day VWAP as calculated under rule 7.1A.3? Include the +issue date and both values. Include the source of the VWAP calculation. | N/A |
6h | If +securities were issued under rule 7.1A for non-cash consideration, state date on which valuation of consideration was released to ASX Market Announcements | N/A |
6i | Calculate the entity's remaining issue capacity under rule 7.1 and rule 7.1A - complete Annexure 1 and release to ASX Market Announcements | N/A |
7 | +Issue dates Note: The issue date may be prescribed by ASX (refer to the definition of issue date in rule 19.12). For example, the issue date for a pro rata entitlement issue must comply with the applicable timetable in Appendix 7A. Cross reference: item 33 of Appendix 3B. | 13 September 2017 |
+ See chapter 19 for defined terms.
04/03/2013 Appendix 3B Page 3
MinRex Resources Ltd. published this content on 13 September 2017 and is solely responsible for the information contained herein.
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