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Spitfire Resources Ltd Announces Equity Capital Raising


Wednesday, 20 Feb 2013 11:39pm EST 

Spitfire Resources Ltd announced an equity capital raising of AUD 3,457,226 via an over-subscribed placement and a subsequent pro-rata renounceable rights issue to all eligible shareholders. The Company will place 35,000,000 fully paid ordinary shares to clients of DJ Carmichael and sophisticated investors at a price of AUD 0.035 per share with one free attaching option for every two shares issued, exercisable at AUD 0.07 per option on or before November 30, 2013. Spitfire will also offer an underwritten renounceable rights issue to eligible shareholders of one ordinary share for every three share held by shareholders at the same price as the placement of AUD 0.035 per share. The funds raised from the placement and rights issue will be used for further geophysical exploration and a targeted drilling campaign at the Company's South Woodie Woodie manganese project and for working capital requirements. 

Company Quote

0.012
-0.0010 -7.69%
31 Oct 2014