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BULLETIN RESOURCES LIMITED — Capital/Financing Update 2016
Nov 17, 2016
64546_rns_2016-11-17_e0a43f02-71d0-4262-bf10-19f4aeffabe6.pdf
Capital/Financing Update
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18 November 2016
ASX RELEASE
Research & Development Tax Refund
Highlights
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Receipt of $784,917 from historical R&D tax returns
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Bulletin retains cash and liquid investments of over $5.75M
Chairman
Paul Poli
The Board of Bulletin Resources (ASX: BNR, Bulletin) is pleased to advise that it has received a total of $784,917, before costs, from the Australian Taxation Office (ATO) in relation to past Research & Development (R&D) returns lodged by the Company.
Bulletin conducted a review of the 2012 and 2013 R&D tax returns lodged by previous management and determined there were omissions in those returns that resulted in the Company receiving a lower R&D refund than they were entitled to. As a result Bulletin lodged amended returns earlier this year which has resulted in the ATO refunding the above amount to the Company.
As a result Bulletin now has in excess of $5.75M in both cash and liquid investments.
Bulletin has reviewed a number of opportunities in the resources sector and will continue to do so until identifying an appropriate opportunity that it believes is in its and shareholders best interests.
Non- Executive Directors
Frank Sibbel Robert Martin
Company Secretary
Andrew Chapman
Shares on Issue
179.29 million shares
Top Shareholders
Matsa Resources Ltd 26.8% Goldfire Enterprises 22.2% Market Capitalisation $4.48 million @ 2.5 cents
Exercise Price of Proposed Options
The Company advises that in accordance with the terms and conditions of the options proposed to be issued in accordance with resolutions 3 to 6, subject to shareholder approval at today’s AGM, the option exercise price will be 3.3 cents each.
For further information, please contact:
Paul Poli, Chairman Phone : +61 8 9230 3585
Bulletin Resources Limited
Suite 11, 139 Newcastle Street, Perth, WA 6000 I PO Box 376 Northbridge WA 6865 I phone (08) 9230 3585 I fax (08) 9227 0370 I www.bulletinresources.com
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