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CADOUX LIMITED — Capital/Financing Update 2009
Dec 6, 2009
64620_rns_2009-12-06_0ab60151-4d86-40c9-b2be-5e00575d7f3b.pdf
Capital/Financing Update
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7 December 2009
Dear Shareholder,
As announced on the 28[th] August 2009, Freedom Eye Ltd ( FYI ) entered into an option to purchase a uranium prospect at Yarlarweelor in Western Australia from Empire Resources Limited.
The purchase of this uranium prospect by FYI, is subject to due diligence on the Yarlarweelor project, as well as obtaining shareholder approval to change the Company’s activities, a consolidation of capital, a change of company name to FYI Resources Limited, the appointment of two Empire representatives to the board of directors and a capital raising of a maximum of $2,500,000. At the recent annual general meeting, resolutions to effect these requirements were passed. As a result of these actions, FYI Resources Limited will emerge as a well funded dedicated uranium exploration company with an exciting project containing several known occurrences of uranium mineralization.
As part of the capital raising, we are pleased to be able to offer you a priority entitlement in the Public Offer out of the allocation of $750,000 made available for FYI shareholders.
The minimum investment in FYI Resources Ltd under the Public Offer is $2,000 and applications from FYI shareholders will be treated on a first come first served basis, subject to Director’s discretion. Any excess priority applications will be considered part of the Public Offer.
As detailed in the prospectus, FYI Resources Limited intends to undertake a bonus issue of options within approximately six months of the closing date of the offer. The options are intended to be issued on the basis of one option for every two shares held.
At the completion of the Yarlarweelor acquisition, Empire Resources Limited will hold 12,829,807 million shares in FYI Resources Limited which represents 28.78% of the issued capital of the Company at the conclusion of the offer for the maximum raising. It is anticipated that as a major shareholder, Empire will provide initial assistance for the Company’s transition to becoming a dedicated uranium explorer.
The offers are made pursuant to the Prospectus and anyone wishing to acquire shares will need to complete the Freedom Eye Ltd priority application form that accompanies the Prospectus and lodge it in accordance with the instructions in the Prospectus prior to the closing date of 18th December 2009.
The FYI Resources Limited prospectus can also be viewed and downloaded on ‐ line at www.freedomeye.com.au and resourcesempire.com.au.
I recommend that you read the prospectus carefully, and if you have any queries, seek independent financial advice, before applying for shares in FYI Resources Limited.
Yours sincerely
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Russell Barnett Chairman
Unit 9, 8 Sarich Way, BENTLEY 6102 Postal: PO Box 1102 EAST VICTORIA PARK WA 6981 Tel: +61 8 9355 0399 Fax: +61 8 9472 0475 Email: [email protected] Website: www.freedomeye.com.au