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CLASSIC MINERALS LTD Capital/Financing Update 2016
64664_rns_2016-09-29_569f067f-05c5-4238-9785-2ccbf61f1fda.pdf
Capital/Financing Update
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30th September 2016
1 MILLION DOLLAR FUNDING FACILITY
Classic Minerals Limited (Classic or the Company) ASX Code: CLZ advises that it has entered into a Standby Subscription Agreement (Facility) with Melbourne based capital firm Stock Assist Group Pty Ltd (Investor). The Facility arrangement will be for \$1,000,000 to progress with the company's ongoing exploration commitments and working capital.
Under the Facility the Investor agrees to subscribe for Shares if requested by the Company subject to the terms and conditions of this Facility. The Company need not use the Facility, however, if the Company wants to use the Facility, it may do so by one or more drawdowns at any time over the next 5 years. Under the Facility the Company may give a Drawdown Notice to the Investor for funds to be received within 2 business days. Unless otherwise agreed between the Company and Investor the payment of subscription moneys and issue of Shares on a Drawdown Date will be effected in accordance with the ASX Listing Rules.
Fully paid ordinary Shares will be issued to the value of the Drawdown Notice at an Issue Price of 80% of the 5 day VWAP prior to the issue of the shares. The Company has the right to terminate the Facility at no cost.
Jeffrey Nurse
Company Secretary On behalf of the Board of Classic Minerals Ltd
Phone :(08) 6305 0221 Address: 71 Furniss Road, Landsdale WA 6065 Postal: PO Box 487, Osborne Park WA 6917 Website: www.classicminerals.com.au Email:[email protected]