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CORE LITHIUM LTD — Capital/Financing Update 2013
Jun 12, 2013
64737_rns_2013-06-12_ef8fbcd9-b71a-427b-9585-71fdf7a0af7b.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
ASX : CXO
13[th] June 2013
RIGHTS TRADING COMMENCES
On 5[th] June 2013 Core Exploration Limited (“ Core ” or the “ Company ”) announced that it was undertaking a 2 for 3 renounceable rights issue at an issue price of $0.03 per share (“ Offer ”). The Offer is “renounceable” which means that the right to apply for new shares under the Offer (“ Right ”) can be traded.
Eligible Shareholders were allocated Rights on the ex-date, 12[th] June 2013. The allocation of Rights was on the basis of 2 Rights for every 3 shares held with any fractional entitlements rounded up to the nearest whole number.
If shareholders do not wish to participate in the Offer, then they are able to trade their Rights on market. Alternatively, they are able to buy additional Rights.
Investors who are not eligible shareholders can participate in the Offer by buying Rights on market. For further information in relation to trading of these Rights, please contact your broker.
The ASX code for the Rights is “ CXOR ”.
Trading of the Rights commenced on 12[th] June 2013 and will continue until 27[th] June 2013 .
Core Rights Issue
Core’s Rights Issue offers 2 New Shares for every 3 shares held at an issue price of 3 cents per share, which represents a 39% discount to the last trading price of 4.9c. For each New Share, shareholders will also receive one free attaching Option with an exercise price of 10 cents and term of 15 months.
Full details of the Rights Issue are set out in the Prospectus lodged by Core with the Australian Securities Exchange (“ASX”) 5[th] June 2013.
For further information please contact:
Stephen Biggins Managing Director Core Exploration Ltd 08 7324 2987 [email protected]
A Level 2, 143 Hutt St, Adelaide SA 5000 | T (08) 7324 2987 | F (08) 8312 2002 | E [email protected] www.coreexploration.com.au