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ADVANCE METALS LIMITED — Capital/Financing Update 2021
Oct 12, 2021
64472_rns_2021-10-12_af3929f8-737f-4282-a017-2556ca7196d9.pdf
Capital/Financing Update
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ANNOUNCEMENT
ASX:PAK
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ASX Release Wednesday October 13[th] , 2021
Rights Issue – Extension of Closing Date
ASX Code
PAK
About Us
Pacific American Holdings Limited (the Company) is an ASX listed company with a diversified asset portfolio with a focus on renewable energy including hydro power generation and bulk commodities for steel making. PAK is advancing the development of its Primary Power subsidiary to expand its portfolio of renewable energy technologies. PAK holds a 50% interest in GP Hydro Pte Ltd and 100% ownership of the Elko Project with 303MT of JORC 2012 compliant resources in the highly productive East Kootenay region of British Columbia. The Company continues to invest in the exploration of gold and copper projects that give shareholders exposure to high value assets.
Board
Non-Executive Chairman – Geoff Hill Executive Director & CEO – Mark Sykes Non-Executive Director – Simon Bird
Company Secretary Wayne Kernaghan
Management
Business Development – Dom Hill
Investment GP Hydro Pte Ltd Ownership 50%
On 10 September 2021, Pacific American Holdings Limited (ASX: PAK ) announced the details of a pro-rata non-renounceable rights issue (Offer) of approximately 159,292,450 fully paid ordinary shares on the basis of 1 New Share for every 2 shares held at an issue price of $0.016 per share to raise approximately $2,548,679.
PAK advises that the Closing Date of the Offer to eligible shareholders of the Company has been extended by 10 days to 5pm Sydney time on Thursday 28 October 2021. The Closing Date has been extended to ensure all eligible shareholders have an opportunity to participate in the Offer, having regard to the ongoing COVID-19 lockdown restrictions that have impacted NSW, Victoria, the ACT and in New Zealand, and the impact this may have on eligible shareholders accessing physical documentation.
The revised indicative timetable is set out below.
| Timetable for the Offer | |
|---|---|
| 10 September 2021 | Announcement to ASX of the Offer. |
| 15 September 2021 7.00pm | Record Date– the date for identifying |
| (Sydney time) | Shareholders entitled to participate in the Offer. |
| 20 September 2021 | Offer Document with Entitlement and AcceptanceForms sent to Eligible Shareholders. |
| Opening Date– the first day for receipt of | |
| 20 September 2021 | acceptances under the Offer and the Shortfall |
| Offer. | |
| 28 October 2021 5.00pm(Sydney time) | Closing Date– the last day for receipt ofacceptances under the Offer and the ShortfallOffer,unless extended. |
| 4 November 2021 | New Shares expected to commence normal (T+2)tradingon ASX. |
The above events, dates and times are indicative only and may be subject to change. The Company reserves the right to alter this timetable at any time without notice, subject to the Corporations Act, the ASX listing rules and other applicable laws..
Project Elko Project Ownership 100% JORC 2012 303MT Resource, 117MT Measured Stage Exploration
Pacific American Holdings Limited ABN 83 127 131 604 GPO Box 1546 SYDNEY, NSW, 2001
This market announcement has been authorised for release to the market by the Board of Pacific American Holdings Limited.
Pacific American Holdings Limited ABN 83 127 131 604 Suite 706, Level 7, 89 York Street, Sydney NSW 2000 GPO Box 1546, Sydney NSW 2001
P: +61 (0) 2 9238 1175 W: www.pacificamerican.com.au
ANNOUNCEMENT
ASX:PAK
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For Further Information Contact
Mark Sykes Dom Hill Chief Executive Officer Business Development Manager Pacific American Holdings Pacific American Holdings [email protected] [email protected]
More details are available on PAK‘s website www.pacificamerican.com.au
Previously Released Information
These ASX announcements refer to information extracted from reports available for viewing on PAK's website www.pacificamerican.com.au and announced on:
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08.09.2021 “ Extensive Historic Geological Mapping Anderson Creek Gold
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16.01.2019 “Elko Coking Coal Project JORC Resource Increased to 303Mt”
PAK confirms it is not aware of any new information or data that materially affects the information included in the original market announcements, and, in the case of exploration targets, that all material assumptions and technical parameters underpinning the exploration targets in the relevant market announcements continue to apply and have not materially changed. PAK confirms that the form and context in which the Competent Person’s findings presented have not been materially modified from the original market announcements.
Forward Looking Statements
Statements contained in this release, particularly those regarding possible or assumed future performance, revenue, costs, dividends, production levels or rates, prices or potential growth of the Company, are, or may be, forward looking statements. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. Actual results and developments may differ materially from those expressed or implied by these forwardlooking.
The interpretations and conclusions reached in this announcement are based on current geological theory and the best evidence available to the authors at the time of writing.
It is the nature of all scientific conclusions that they are founded on an assessment of probabilities and, however high these probabilities might be, they make no claim for absolute certainty.
Any economic decisions which might be taken on the basis of interpretations or conclusions contained in this report will therefore carry an element of risk.
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