AI assistant
CRITICAL RESOURCES LIMITED — Capital/Financing Update 2017
Feb 9, 2017
64708_rns_2017-02-09_7455bc0a-a278-4eef-b5ff-47cab6e630e5.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
ASX Release 10 February 2017
==> picture [113 x 81] intentionally omitted <==
Force Commodities Limited ACN 145 184 667
Suite 7, 234 Churchill Avenue, Subiaco, WA, 6008, Australia
Phone: +61 8 6500 6872
Contact
Rocco Tassone, Managing Director e: [email protected]
Latest News
www.sovereigngold.com.au
Directors / Officers Charles Thomas (Chairman) Rocco Tassone (MD) Patrick Glovac
ASX: 4CE
Marquee Resources Limited Prospectus Open & Update Feb 2017
-
Clayton Valley Lithium spin-off Marquee Resources Limited offer is now open. Force Commodities Limited (4CE) to retain a 9.375% equity position ($450,000 @ $0.20 IPO issue price)
-
4CE shareholders will receive priority offer in Marquee Resources Limited IPO.
-
Candidates shortlisted for 4CE Executive Director, Non-Executive Chairman, Resource Development and Project Development appointments
-
Preparations underway for 2017 drilling campaign
Force Commodities Ltd (Force Commodities or the Company) (ASX Code: “4CE”) is pleased to provide the following update to shareholders:
Marquee Resources Limited
A Replacement Prospectus for Marquee Resources Limited spin-off of the Clayton Valley (Nevada) Lithium Project has been lodged with ASIC. The offer is now open and the company is accepting applications. The Replacement Prospectus is available for download by visiting www.marqueeresources.com.au
The attached postcard has been mailed to 4CE shareholders in relation to their Priority Offer.
Marquee Resources Limited has attracted a world-class experienced board to be appointed at the completion of the IPO:
Mount Adrah Mineral Resource estimate: 770,000 oz of gold, at various cut-off grades: Indicated: 440,000 oz from 12.1 Mt at 1.1 g/t gold and Inferred: 330,000 oz from 8.4 Mt at 1.1 g/t gold[*]
- The information regarding the Mineral Resource is extracted from the report entitled “Hobbs Pipe Mineral Resource Update Additional Information” created 27[th] December 2013 and is available to view on sovereigngold.com.au/investors.htm. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources or Ore Reserves, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.
Mr Mark Ashley (Proposed Non-Executive Chairman) - Has held senior executive roles with Normandy Mining, Lion Ore Mining International, Kagara Zinc and Apex Minerals.
Mr Jason Bontempo (Proposed Non-Executive Director) - Is currently Executive Director of Equator Resources (ASX Code: EQU) and until recently Non-Executive Director of Red Mountain Mining Limited (ASX Code: RMX).
Mr Charles Thomas (Executive Director) – Currently a director of Force Commodities Limited.
The IPO is still subject to ASX approval of the Listing Application.
4CE Executive Team
As announced on 22 December 2017 (ASX release “Company Update December 2016”) the board commenced its search for candidates to strengthen the current management team.
The current Directors have worked tirelessly to transform 4CE into a company that is capable of attracting additional quality management and personnel to advance its two projects; Halls Peak and Mt Adrah.
Management are pleased to announce they have shortlisted candidates for appointment in the following roles: Executive Director, Non-Executive Chairman, Resource Development Manager and Project Development Manager.
112328 (745712)
ASX Release 10 February 2017 - Page 2
==> picture [126 x 89] intentionally omitted <==
Appointments are expected to be made in this fiscal quarter and the company will inform the market accordingly. It is also proposed that two existing Directors will step-down following these successful appointments.
Exploration Program
Preparations have commenced for the Mt Adrah 2017 campaign, initially conducting a 1,280 metre diamond core drill program and if results are positive the program will be expanded to test structures along strike and down dip with the aim to build a JORC resource inventory.
A significant amount of historical data on Halls Peak generated by a number of major mining companies including BHP Co. Ltd., Mt. Isa Mines Ltd., The Zinc Corporation, Allstate Exploration N. L., Carpentaria Exploration Co. Ltd., CRA Exploration Limited and Amoco Minerals Australia Co continues to being assessed. Once completed the company will immediately commence resource definition drilling at the Gibsons Project.
The company expects to release a detailed Summary Report on Mt Adrah and Halls Peak shortly.
For further information, please contact: Rocco Tassone, Managing Director Force Commodities Limited
Telephone: +61 8 6500 6872
4CE – Priority Offer
==> picture [242 x 190] intentionally omitted <==
----- Start of picture text -----
PRIORITY
SHARE OFFER
CLOSING DATE:
6 MARCH 2017 []
----- End of picture text -----*
==> picture [129 x 73] intentionally omitted <==
- Offer may close early
==> picture [276 x 306] intentionally omitted <==
----- Start of picture text -----
POSTAGE
PAID
AUSTRALIA
If undeliverable please return to
Suite 7, 234 Churchill Avenue, Subiaco WA 6008 Australia
----- End of picture text -----
FRONT
4CE Priority Offer 112328 (745707)
Page 1
Last printed 10-Feb-17 9:33:00 AM
4CE – Priority Offer
Marquee Resources Limited (Company or Marquee Resources) has agreed to acquire Sovereign Gold Nevada Inc, the holder of 111 mineral claims in the Clayton Valley situated at 37º 48’ N / 117º 30’ W, at an altitude of 1,300m – 1,450m, approximately 30km NW from the town of Goldfield subject to successful completion of an IPO on ASX. The primary objective of Marquee Resources is to focus on mineral exploration of resource opportunities that have the potential to deliver growth of the Company for the benefit of Shareholders. The Company is focusing in the short term to develop the Nevada mineral claims with the intention of increasing Shareholder value through further discovery and extension of known lithium mineralisation. Marquee Resources is offering for subscription 17,500,000 shares at an issue price of $0.20 per share to raise $3.5 million.
As part of a Priority Offer, Force Commodities Shareholders will be given priority for an allocation of 10,000 Shares. Force Commodities Shareholders may apply for more Shares under the Priority Offer and will be given preference over other subscribers except to the extent necessary to meet the spread requirements of the Listing Rules. The Offer of the securities is made in a Replacement Prospectus lodged with ASIC on 8 February 2017. To subscribe for Shares, applicants will need to complete the application form that is in, or accompanies, the prospectus. Applicants should consider the prospectus in deciding whether to acquire the Shares. The prospectus can be viewed and downloaded at www.marqueeresources.com.au.
==> picture [121 x 87] intentionally omitted <==
Force Commodities Limited [ASX: 4CE] Suite 7, 234 Churchill Avenue, Subiaco WA 6008 P: +61 8 6500 6872
PRIORITY SHARE OFFER Download a copy of the Marquee Resources Prospectus at www.marqueeresources.com.au.
==> picture [160 x 89] intentionally omitted <==
BACK
4CE Priority Offer
Page 2
Last printed 10-Feb-17 9:33:00 AM
112328 (745707)