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AERIS RESOURCES LIMITED — Capital/Financing Update 2021
Jun 10, 2021
64347_rns_2021-06-10_3873a3c5-81b5-421d-b3a8-306419d81dfd.pdf
Capital/Financing Update
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ASX/MEDIA RELEASE
11 JUNE 2021
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COMPLETION OF $50.4M PLACEMENT
Highlights:
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Aeris successfully completed a $50.4m equity raising by way of Institutional Placement
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Funds will accelerate exploration programs at Aeris’ 100% owned Tritton Copper Operation and Cracow Gold Operation
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Strong institutional demand enabled bookbuild to be closed intra-day
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Approximately 287.9 million new shares to be issued at $0.175 per share
Established Australian copper-gold producer and explorer , Aeris Resources Limited (ASX: AIS) (Aeris or the Company) is pleased to announce that it has successfully completed an Institutional Placement of new ordinary fully paid shares to raise $50.4m. The funds will be used to accelerate exploration programs at the Company’s 100% owned Tritton Copper Operation and Cracow Gold Operation, provide general working capital and cover transaction costs of the equity raise ( Placement ).
The Placement was conducted at $0.175 per share, representing a 14.6% discount to the last close of $0.205 on 9 June 2021, to various new and existing institutional and sophisticated investors.
Bell Potter Securities Limited and Euroz Hartleys Limited acted as Joint Lead Managers to the Placement.
Aeris’ Executive Chairman, Andre Labuschagne, said: “This is an exceptional outcome for Aeris and its shareholders and provides the balance sheet strength to accelerate exploration at both our operations in FY22, while progressing in parallel, life extension projects at Tritton.”
“In FY22 we will continue development of the Budgerygar underground mine. We are also finalising plans to commence development of Avoca Tank (underground) and a cut-back of the open pit at Murrawombie.”
Aeris Resources Limited ABN 30 147 131 977
Level 2, HQ South Tower, 520 Wickham Street, Fortitude Valley QLD 4006 Australia Post: Box 14, 520 Wickham Street, Fortitude Valley, QLD 4006 E : [email protected] T: +61 7 3034 6200 F: +61 7 3034 6290 aerisresources.com.au
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“The strong institutional support for the Placement I believe is a reflection of not only the transformation of the Company over the last 12 months but also an endorsement of our strategy focusing on copper and gold and adding value through organic and acquired growth.”
“We acknowledge the support of our current and new shareholders and completion of the Placement ensures that FY22 will be both a busy and exciting year for Aeris.”
Placement
The Placement will raise $50,385,226 through the issue of 287,915,577 new ordinary fully paid shares ( New Shares ) in the Company.
The proceeds of the Placement will be used for:
| USE OF FUNDS | $ million |
|---|---|
| Accelerating exploration activities at Tritton and Cracow | 28.0 |
| Transaction costs associated with the Placement | 2.5 |
| General working capital | 19.9 |
| Total | 50.4 |
The New Shares will rank equally in all respects with Aeris’ existing shares. As the Placement was conducted in accordance with the Company’s placement capacity under Listing Rule 7.1, shareholder approval for the issue of the New Shares is not required.
Key Dates
A timetable for the Placement is set out in the table below:
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----- Start of picture text ----- KEY EVENT Indicative DatesTrading halt and announcement of the Equity Raising Thursday, 10 June 2021Placement Bookbuild opens Thursday, 10 June 2021Placement Bookbuild closes Thursday, 10 June 2021Trading halt lifted Friday, 11 June 2021Settlement of Placement Thursday, 17 June 2021Issue of Placement Shares Friday, 18 June 2021Expected Quotation of Placement Shares Friday, 18 June 2021----- End of picture text -----
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Additional Information
Additional information regarding the Placement is contained in the investor presentation released to the ASX on 11 June 2021.
Bell Potter Securities Limited and Euroz Hartleys Limited acted as Joint Lead Managers and Bookrunners to the Placement. HopgoodGanim acted as legal advisor to the Company.
This announcement is authorised for lodgement by:
Andre Labuschagne Executive Chairman
ENDS
For further information, please contact: Andre Labuschagne Executive Chairman Tel: +61 7 3034 6200, or visit our website at www.aerisresources.com.au
Media:
Peta Baldwin Cannings Purple Tel: 0477 955 677 [email protected]
About Aeris
Aeris Resources Limited (ASX: AIS) is a diversified mining and exploration company. The Company has a growing portfolio of copper and gold operations, development projects and exploration prospects. Aeris has a clear vision to become a mid-tier mining company with a focus on gold and base metals, delivering shareholder value.
Aeris’ Board and management team bring decades of corporate and technical expertise in a lean corporate structure. Its leadership has a shared, and highly disciplined focus on operational excellence, and an enduring commitment to building strong partnerships with the Company’s workforces and key stakeholders.
Headquartered in Brisbane, in FY21 Aeris is forecasting to produce between 22,500 and 23,500 tonnes of copper from its Tritton Copper Operation in New South Wales, and between 70,000 and 75,000 ounces of gold from its Cracow Gold Operation in Queensland.
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