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NSL Consolidated Ltd Announces Commitments Received For $1 Million Capital Raising


Sunday, 13 Oct 2013 06:19pm EDT 

NSL Consolidated Ltd announced that it has secured commitments for the placement of 102,946,215 fully paid shares at an issue price of $0.01 per share, raising $1,029,462. The placement will occur in two tranches, with 92,946,215 million shares being issued under the Company’s 15% and additional 10% placement capacity and the balance (related parties) subject to shareholder approval at the Company’s Annual General Meeting to be held in November 2013. One free attaching option will be granted for each share allotted under the placement with a $0.01 exercise price and an expiry date of December 31, 2016, which will also be subject to the receipt of shareholder approval. The Placement is fully subscribed and is due to settle on October 15, 2013. The funds raised will be utilised by the Company as the Company continues to work with Vijay in relation to the fulfilment of Vijay’s financial commitments under the Joint Venture (JV) and while the Company continues to progress discussions with various other parties to replace Vijay in the JV. These parties are currently engaged in further discussions and conducting due diligence. The parties range from Indian high net worth individuals and companies to multinational companies. 

Company Quote

0.0060
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27 Nov 2014