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CARNAVALE RESOURCES LIMITED — Capital/Financing Update 2010
Jan 31, 2010
64607_rns_2010-01-31_008dfeda-5f64-4a28-877f-847303e7847d.pdf
Capital/Financing Update
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1 February 2010
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Dear Shareholder
Non-Renounceable Entitlements Issue
On 12 January 2010 the Company announced the details of a non-renounceable entitlements issue of up to 73,664,116 options (exercisable at 20 cents each on or before 28 February 2013) ( Option ) at an issue price of $0.005 per Option on the basis of 1 Option for every 1 Share held on the record date, to raise approximately $368,000 ( Offer ).
The prospectus relating to the Offer ( Prospectus ) has been lodged with ASX and the Australian Securities and Investments Commission ( ASIC ) and is available on the ASX website, www.asx.com.au.
The timetable and important dates of the Offer are set out below:
| www.asx.com.au.The timetable and important dates of the Offer are set out below: | |
|---|---|
| Lodgement of Prospectus and Appendix 3B | 29 January 2010 |
| “Ex” Date | 2 February 2010 |
| Record Date | 8 February 2010 |
| Opening Date and Dispatch of Prospectus | 11 February 2010 |
| Closing Date | 26 February 2010 |
| Advise ASX of under-subscription | 3 March 2010 |
| Deferred settlement trading ends and dispatch date | 9 March 2010 |
| Note: The Directors may extend the Closing Date by giving at least 6 Business Days notice | |
| to ASX prior to the Closing Date. As such, the date the Shares are expected to commence | |
| trading on ASX may vary with any change in the Closing Date. |
The purpose of the Offer is to raise approximately $368,000 which will be applied firstly to meet the expenses of the Offer ($33,000) and the remainder will be used to identify, evaluate and acquire advanced mineral projects and / or oil and gas opportunities and for working capital.
The entitlement offer is open for participation only by shareholders with a registered address in Australia or New Zealand. Shareholders in other countries will be provided with a copy of the prospectus for information purposes only.
A copy of the Prospectus together with a personalised Entitlement and Application Form will be mailed to all shareholders eligible to participate in the Offer.
Yours sincerely
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Paul Jurman Company Secretary
CARNAVALE RESOURCES LIMITED
ABN 49 119 450 243 30 Ledgar Road, Balcatta Western Australia 6021 T: +61 8 9240 6876 F: +61 8 9240 2406 E: admin @carnavaleresources.com