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Alcyone Resources Ltd Announces Pro-Rata Non-Renounceable Rights Issue


Wednesday, 29 May 2013 07:10pm EDT 

Alcyone Resources Ltd announced that it is proposing to undertake a pro rata non-renounceable entitlement issue (Entitlement Issue or Offer) of fully paid ordinary shares in the capital of the Company (Share), along with free attaching options exercisable at $0.01 per option on or before July 21, 2015 (Options). The terms of the Entitlement Offer have been updated to an offer of two Shares for every one Share held by eligible shareholders at the Record Date at an issue price of $0.005 per Share, along with one free attaching Option for every two Shares subscribed for, to raise up to a maximum of $16,250,927 (excluding costs of the Offer). A Prospectus in relation to the Offer was lodged with the ASIC and ASX on May 29, 2013 (Prospectus). The Company has engaged Patersons Securities Limited (Patersons) as lead manager to the Offer. The funds raised under the Offer will be used towards: (a) redeeming the Company’s Convertible Securities (including promissory/bridge notes) by paying out amounts owing under the Convertible Securities (depending on the amount raised under the Entitlement Offer); (b) paying out creditors of the Company (depending on the amount raised under the Entitlement Offer); (c) plant and equipment upgrades at the Company’s Texas Silver Project; and (d) providing additional working capital. Participation in the Entitlement Issue is available to all eligible Alcyone Shareholders registered at 5.00pm (WST) on the record date of 7 June 2013 (Record Date). 

Company Quote

0.0020
0.0010 +100.00%
2 Mar 2014