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CONSTELLATION RESOURCES LIMITED — Capital/Financing Update 2024
Mar 27, 2024
64701_rns_2024-03-27_9a24322e-3387-4928-9c88-8d0969bb3fa6.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT 28 March 2024
PLACEMENT TO RAISE $1.4 MILLION
Constellation Resources Limited (“the Company” or “Constellation”) is pleased to announce that it has successfully secured commitments from sophisticated investors to subscribe for 9,375,000 new ordinary shares of the Company at an issue price of $0.12 per share, to raise gross proceeds of $1.125 million (“ Placement” ). Additionally, Directors and Officers have subscribed, subject to shareholder approval, for 2,233,334 new ordinary shares to raise a further $268,000.
Proceeds from the Placement will be used for the Company’s current exploration activities in Western Australia, business development opportunities and for general working capital.
As a result of the planned participation of Directors and Officers, the Placement will be completed in two tranches as follows:
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a) 9,375,000 new shares will be issued on or about 5 April 2024 under Listing Rules 7.1 (4,384,458 shares) and 7.1A (4,990,542 shares); and
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b) 2,233,334 new shares will be issued to Directors and Officers subject to shareholder approval to be sought at a General Meeting of the Company’s shareholders. A notice of meeting will be sent to shareholders shortly to approve the participation by Directors and Officers.
For further information, please contact:
Peter Woodman
Managing Director Tel: +61 8 9322 6322
This ASX Announcement has been authorised for release by Constellation’s Board of Directors.
Level 9, 28 The Esplanade PERTH WA 6000 tel +61 8 9322 6322 fax +61 8 9322 6558 email [email protected] constellationresources.com.au
ABN 57 153 144 211
28 March 2024
Issue of Incentive Options to Directors, Officers and Consultants
The Company has granted the following incentive options to key consultants of the Company:
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450,000 $0.12 unlisted options expiring 3 years from issue (vesting immediately);
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1,325,000 $0.18 unlisted options expiring 4 years from issue (vesting after 6 months); and
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1,325,000 $0.25 unlisted options expiring 5 years from issue (vesting after 12 months).
Additionally, the Company has granted, subject to shareholder approval, the following incentive options to Directors and Officers:
| to Directors and Officers: | ||||
|---|---|---|---|---|
| Name & Position | $0.12 unlistedoptions expiring3 years (vestingimmediately) | $0.18 unlistedoptions expiring 4years (vesting 6months) | $0.25 unlistedoptionsexpiring 5years (vesting12 months) | Total |
| Peter Woodman (Managing Director) | 400,000 | 400,000 | 400,000 | 1,200,000 |
| Peter Muccilli (Technical Director) | 500,000 | 500,000 | 500,000 | 1,500,000 |
| Mark Pearce (Non-Executive Director) | 150,000 | 150,000 | 150,000 | 450,000 |
| Robert Behets (Non-Executive Director) | 150,000 | 150,000 | 150,000 | 450,000 |
| Lachlan Lynch (Company Secretary) | 350,000 | 350,000 | 350,000 | 1,050,000 |
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