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CADOUX LIMITED — Capital/Financing Update 2015
Sep 27, 2015
64620_rns_2015-09-27_f1d9cc9d-de23-4201-9af5-dbd89227beff.pdf
Capital/Financing Update
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28 September, 2015 ASX Release (ASX code: “FYI”)
Raising of $1,000,000 via sale of non-core asset
FYI Resources Ltd (the “Company” or “FYI”) is pleased to announce that it has arranged the sale of a non-core property asset for $1,000,000.
The asset, a 7.11 hectare rural zoned property in Baldivis, Western Australia, is a remnant asset acquired by the Company when it was operating under a previous business strategy.
The sale, whilst still conditional, is expected to be finalised in the second week of October and settle on the 26[th] October.
The proceeds of the sale will provide sufficient near term funding for FYI’s working capital requirements in continuing with its Southeast Asian potash strategy.
Further Information:
Roland Hill Managing Director Tel: +61 414666178
About FYI Resources Limited
The potential for potash deposits in Thailand and Laos was recognised following FYI’s extensive global review of suitable new projects and commodities that could add significant value to the Company.
Potash is the common term used for a group of potassium minerals used principally as agricultural fertilisers. The Company’s strategic move into the commodity followed its market analysis reinforcing the view that the current increasing human populations will lead to higher sustained demand for potash minerals to help boost food production, yield, quality and taste of produce.
53 Canning Highway, VICTORIA PARK, WA 6100 Tel: +61 8 9361 3100 Fax: +61 8 9361 3184 Website: www.fyiresources.com.au ACN 061 289 218