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Artemis Resources Limited — Capital/Financing Update 2010
Sep 23, 2010
10429_rns_2010-09-23_21cefe05-acb2-4aee-86a5-da869ec396b9.pdf
Capital/Financing Update
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24[th] September 2010 ASX Announcement
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About Artemis Resources
Artemis Resources is an ASX-listed mineral exploration company with a focus on gold:
Artemis Completes First Part ($3m) Capital Raising with Allotment
Key Projects
Gold Mt Clement (WA) Yandal (WA)
Rare Metals Yangibana (WA) Buchanan's Creek (QLD)
Uranium Mundong Well (WA) TAG II/IV (West Africa)
Artemis’ corporate strategy is to maximise shareholder returns through a combination of exploration success and quality project acquisition.
The Company's focus on gold is viewed as an important growth strategy for the company.
Australian Securities Exchange
Code: ARV Options: ARVOB
Australian Resources company, Artemis Resources ( ASX: ARV ) is pleased to announce that following the approval of shareholders at the Extraordinary General Meeting on 25 June 2010, the Company has allotted to subscribers in the Company’s recent placement, 54,545,454 shares and 13,636,354 free attaching options, raising $3m on the 23 September 2010.
The Company will also conduct an underwritten renounceable entitlement offer ( Entitlement Offer ) to existing shareholders to raise $2.4m as outlined in the announcement on 20 September 2010.
Patersons Securities Limited is the Lead Manager to the placement and Underwriter of the Entitlement Offer. Both offers were heavily oversubscribed.
Proceeds of the capital raising will be used to fund Phase 2 drilling at the Mt Clement Gold/Silver/Copper Project and drilling at the Yandal Gold Project. Mt Clement is located in the Ashburton gold province which hosts the Mt Olympus and Paulsen’s gold mines. Yandal is located in the rich and highly prospective Yandal Greenstone Belt.
Artemis Contact
David W. Price Executive General Manager Tel: +61 2 92998820
www.artemisresources.com.au
Media Contact
David Brook Professional Public Relations Tel: +61 893880944 Mob: +61 (0) 415 096 804
The Prospectus for the Entitlement Offer will be lodged with ASIC and ASX by 28 September 2010.
The 1 for 6 underwritten renounceable pro-rata entitlement offer to existing and placement shareholders will raise approximately $2.4m and is being done on the same basis as the placement at 5.5c per share, plus free attaching options on a 1 for 4 basis (Listed Option: ARVOB exercise price 5c).
As a renounceable entitlement offer, Artemis shareholders who do not take up their entitlement to participate in the Entitlement Offer may receive value for those entitlements. The Entitlements will be traded on the ASX.
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Artemis Resources Limited ABN: 80 107 051 749 Telephone: +61 2 9299 8820 | Facsimile: +61 2 9262 2885 | Email: [email protected] Level 10, 1 Margaret Street, SYDNEY NSW 2000 | PO Box R933 Royal Exchange, NSW 1225 Australia www.artemisresources.com.au
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Shareholder Enquiries
Shareholders will be sent details of the Artemis timetable for the Entitlement Offer shortly. Shareholders who have questions regarding the Entitlement Offer should call Artemis Share Registry on (08) 9315 2333 from 9am to 5pm (WST) from 30 September 2010.
For further information, please contact:
David W. Price Executive General Manager Office: +61 (0)2 9299 8820 Email: [email protected] Web Site: www.artemisresources.com.au
ABOUT ARTEMIS RESOURCES
Artemis Resources ( ASX: ARV ) is a diversified resources exploration company with a focus on its prospective Mount Clement and Yandal gold projects in the rich Ashburton and Bronzewing provinces of Western Australia. The Company also has exposure to rare earths through its Yangibana (Western Australia) and Buchanan’s Creek (Queensland) projects and Uranium through its Mundong Well and TAG II/IV projects in Western Australian and West Africa. Its projects were targeted because of their quality, exploration potential and close proximity to existing deposits or producing mines.
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Artemis Resources Limited ABN: 80 107 051 749 Telephone: +61 2 9299 8820 | Facsimile: +61 2 9262 2885 | Email: [email protected] Level 10, 1 Margaret Street, SYDNEY NSW 2000 | PO Box R933 Royal Exchange, NSW 1225 Australia www.artemisresources.com.au