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Queensland Mining Corporation Limited Announces Notice Of Intention To Offer Rights Issue To Existing Shareholders


Monday, 7 Oct 2013 05:00pm EDT 

Queensland Mining Corporation Limited announced that it proposes to make a rights issue pursuant to section 708AA of the Corporations Act without issuing a product disclosure statement in relation thereto. The rights issue is a pro-rata non-renounceable entitlement issue of two new shares for every five shares held at the Record Date. The issue price for each new share is 1.2 cents. The offer seeks to raise approximately $4.18 million. The offer is not underwritten. It will result in the issue of 347,999,927 new shares by the Company. The purpose of the rights issue is to fund the continual exploration and development programs of the White Range Project; the cost of this offer; repayment of the loan due to Perfect Nation Global Ltd (approximately $215,000) and for working capital. 

Company Quote

0.015
-0.0010 -6.25%
25 Jul 2014