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CHALLENGER GOLD LIMITED — Capital/Financing Update 2013
Aug 6, 2013
64637_rns_2013-08-06_910fce9a-83bb-4f62-b9dc-e0fc25860b61.pdf
Capital/Financing Update
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8 August 2013
ASX release
Challenger undertakes private placement
The Board of Challenger Energy Ltd (“Challenger”) is pleased to announce that it has entered into binding agreements to undertake a private placement to raise $1.00 million before associated costs.
The capital raising will be undertaken via the placement of 16,666,667 new fully paid ordinary shares at an issue price of 6 cents ($0.06) per share.
The shares will be placed to a small number of existing shareholders all of which are sophisticated investors pursuant to Chapter 7 of ASX Listing Rules.
In commenting on the capital raising Mr Robert Willes, the Managing Director of Challenger said:
“ The Company is pleased to announce $1 million in placement funds from existing shareholders. These funds provide a welcome boost to the Company’s working capital and leave Challenger well placed as it progresses the permit application process in South Africa. It is a strong vote of confidence in Challenger’s potential.”
For further information please contact:
Mr Robert Willes Managing Director Challenger Energy Ltd [email protected] 0410 479 032
Address Level 17, 500 Collins Street, Melbourne, VIC, 3000 Tel + 61 3 9614 0600 Fax +61 3 9614 0550 Email [email protected] Web www.challengerenergy.com.au ACN 123 591 382