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ASARA RESOURCES LIMITED — Capital/Financing Update 2015
Mar 15, 2015
64427_rns_2015-03-15_842d9d80-1c99-4af2-80a8-aa5a731269ec.pdf
Capital/Financing Update
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ASX/Media Announcement
16 March 2015
Not for distribution to United States newswire services or for dissemination in the United States of America
A$1 Million Fundraising Successfully Completed
Golden Rim Resources Ltd (ASX: GMR, Company or Golden Rim ) today announced that it has successfully completed its recently announced fundraising.
On 25 February 2015, Golden Rim announced a proposed two part placement, raising up to A$1,050,680 (before costs) ( Capital Raising ) as follows:
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A$800,680 (108,200,000 ordinary fully paid shares ( Shares )), with a minimum of A$606,800 (82,000,000 Shares) to clients of Sprott Inc. and its affiliates ( Sprott ); and
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an additional A$250,000 (33,783,784 Shares) to Acorn Capital Limited ( Acorn ).
The Capital Raising was at an issue price of A$0.0074 per Share.
Golden Rim received subscriptions from Sprott’s clients and managed funds for the maximum amount under Sprott’s allocation. A 6% fee is payable in relation to the Capital Raising.
Funds from the Capital Raising will be used to commence a reverse circulation ( RC ) drilling program at Korongou ahead of the wet season and for general corporate purposes.
Golden Rim is planning an initial 4,000m RC drilling program at Korongou to test the new Guitorga auger gold anomaly. Follow up work, including an RC drilling program, is the next vital step that will assist the Company to determine the significance of these highly anomalous gold auger results that extend over 3.5km.
It is envisaged the RC drilling program will take two months to be completed.
One of Sprott’s managed funds is now Golden Rim’s largest shareholder. Sprott is a leading North American-based asset management firm with an enviable track record of identifying and funding successful early stage resource companies.
Acorn is Golden Rim’s third largest shareholder. Acorn is a leading investor in small and microcap companies in Australia and Asia and has been a long term supporter of Golden Rim.
-ENDS-
Golden Rim Resources Ltd I ABN 39 006 710 774 I Level 2, 10 Outram Street, West Perth WA 6005, Australia I PO Box 378, West Perth WA 6872, Australia www.goldenrim.com.au I [email protected] I T + 61 8 9481 5758 I F + 61 8 9481 5759
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For further information, please contact:
Hayley Butcher
Golden Rim Resources Ltd Company Secretary +61 8 9481 5758
The securities described herein have not been registered under the U.S. Securities Act of 1933, as amended, or applicable state securities laws, and may not be offered or sold in the United States absent registration, or exemption from registration, under such laws.
Further Company Information
E: [email protected] W:goldenrim.com.au
Capital Structure Issued Shares: 1,438,520,000 Unlisted Options: 229,625,067
Share Registry
Security Transfer Registrars Pty Ltd 770 Canning Highway APPLECROSS WA 6153 AUSTRALIA
T: + 61 8 9315 2333 F: + 61 8 9315 2233 E: [email protected]
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