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BUXTON RESOURCES LIMITED — Capital/Financing Update 2017
May 7, 2017
64585_rns_2017-05-07_76e97712-1e8d-481b-adcc-aecbbde2b813.pdf
Capital/Financing Update
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ASX Release
8 May 2017
BUXTON’S LARGEST SHAREHOLDER INCREASES STAKE BY $500K
HIGHLIGHTS
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Placement to NBH Group realises total cash injection of $500k
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2,173,931 ordinary shares in BUX at A$0.23 per share
Funds will facilitate exploration program at Double Magic Nickel Copper Project
Buxton Resources Ltd (ASX: BUX) is pleased to advise that the Company has raised $500,000.00 through the placement of 2,173,913 shares at 23 cents per share, pursuant to Section 708 of the Corporations Act.
The placement was granted to a private Chinese conglomerate, National Business Holdings (“NBH”), an important strategic, and largest, Buxton shareholder. NBH is a subsidiary of CEFC China Energy. Since 2013 the company has been listed on the Fortune Global 500 list.
NBH Group have extensive investments within and outside of China, along with a substantial network of business contacts within the Chinese private and public sectors.
Buxton is delighted to have attracted this additional investment from NBH, as it demonstrates confidence in Buxton's flagship Double Magic Ni-Cu Project.
For further information please contact:
Eamon Hannon Managing Director [email protected]
Suite 1, First Floor Tel: 08-9380 6063 14-16 Rowland Street Fax: 08-9381 4056 Subiaco WA 6008
PO Box 9028 Subiaco WA 6008