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BOSS ENERGY LTD — Capital/Financing Update 2013
Sep 16, 2013
64549_rns_2013-09-16_316492e6-e15e-42eb-8ec4-0880bb297257.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
16 September 2013
NON-RENOUNCEABLE RIGHTS ISSUE
Boss Resources is pleased to confirm lodgement of a prospectus (Prospectus) with the Australian Securities and Investments Commission (ASIC) to raise approximately $1 million before costs by way of a 1 for 4 non-renounceable rights issue at $0.01 per share.
Details of the Rights Issue
Under the Rights Issues, the Company is offering one fully paid ordinary share (New Share) for every four existing shares held as at 5.00pm WST on 25 September 2013 (Record Date) to shareholders with a registered address in Australia.
The Company will issue up to 99,468,295 New Shares at an issue price of $0.01 per New Share to raise approximately $1 million before costs. The Rights Issue is not underwritten and in the event that all eligible shareholders do not accept their full entitlement, the Directors reserve the right to issue any shortfall securities at their sole discretion.
The New Shares will rank equally in all respects with the Company’s existing shares. The Company will apply to the ASX for quotation of the New Shares.
Optionholders of the Company may participate in the Rights Issue if they convert their options in time to be registered as shareholders on the Record Date, in accordance with the terms and conditions of the options. A separate letter containing further details will be mailed to holders of options.
Use of Funds
The Company intends to apply the funds raised by the Rights Issue (together with the Company’s existing cash reserves) for the exploration of its newly acquired nickel-copper projects, Liakka and Skogtrask in Finland and Sweden respectively, the further exploration of its gold projects in Burkina Faso, to fund future acquisition costs and as general working capital.
In the event that circumstances change or other opportunities arise, the Directors reserve the right to vary the proposed use of funds to maximize benefits to shareholders.
Suite 23, 513 Hay St, Subiaco WA 6008 PO Box 1311, Subiaco WA 6904 Tel: +61 (8) 6143 6730 Fax: +61 (8) 9388 8824 ABN 38 116 834 336
Indicative Timetable
The Company expects the Rights Issue to be conducted in accordance with the following timetable:
| The Company expects the Rights Issue to be conducted in accordance withtimetable: | the following |
|---|---|
| Lodgement of Appendix 3B and Prospectus with ASX | 16/09/2013 |
| Notice of Entitlement Offer sent to Security holders | 17/09/2013 |
| Shares quoted on an “EX” basis | 19/09/2013 |
| Record date for determining Entitlements | 25/09/2013 |
| Prospectus and Entitlement and Acceptance Form despatched to Eligible Shareholders | 27/09/2013 |
| Closing Date of Entitlement Offer* | 14/10/2013 |
| Shares quoted on a deferred settlement basis | 15/10/2013 |
| Notification of Shortfall | 16/10/2013 |
| Anticipated date for allotment and issue of the Securities and despatch of holder statements | 22/10/2013 |
| Anticipated date for commencement of Securities trading | 23/10/2013 |
This timetable is indicative only and subject to change. The Company reserves the right to vary the above dates, subject to the ASX Listing Rules and the Corporations Act.
Prospectus
The Company has lodged the Prospectus with ASIC today which sets out the material information relating to the Rights Issue.
A copy of the Prospectus and an Appendix 3B in respect of the Rights Issue will follow this announcement. The Prospectus, together with the application form, will also be mailed to all eligible shareholders in accordance with the timetable above. The Prospectus will also be available on the Company’s website www.bossresources.com.au and the ASX website.
For further information:
Oonagh Malone Company Secretary Tel: +61 8 6143 6730
Suite 23, 513 Hay St, Subiaco WA 6008 PO Box 1311, Subiaco WA 6904 Tel: +61 (8) 6143 6730 Fax: +61 (8) 9388 8824 ABN 38 116 834 336