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CYCLIQ GROUP LTD — Capital/Financing Update 2012
Jul 5, 2012
64746_rns_2012-07-05_33d1008b-28b3-4364-b3ba-3ab7a6e3a1dc.pdf
Capital/Financing Update
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6 July 2012
ASX Market Announcements ASX Limited 20 Bridge Street Sydney NSW 2000
FURTHER FUNDING RAISED THROUGH CONVERTIBLE LOANS
Sprint Energy Ltd (“Sprint”) (ASX Code: SPS) wishes to advise whilst the Company continues the process of evaluating and making positive steps to re-establishing value in the current and future assets of the Company, further working capital has been acquired through the use of convertible loans entered into during June 2012 raising a total of $443,400.
The terms of the convertible loans are as follows:
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The issue of the shares in satisfaction of loans are subject to shareholder approval 2. Interest in calculated daily at a rate of 6% and payable at 6 months intervals 3. Termination date is 26 June 2013
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The issue price of the shares will be the lower of $0.02 or 80% of the 5 day VWAP preceding the shareholders meeting.
The Company will provide an update to the market on future developments, as it progresses with the implementation of the current strategic goals.
Yours sincerely Sprint Energy Ltd
Mr Brad Boyle Managing Director
Phone: +61 3 9692 7222 Mobile: +61 417 175 852 Email: [email protected]
About Sprint Energy Ltd: Sprint Energy Ltd is an independent oil and gas exploration and production Company, listed on the Australian Stock Exchange (ASX Code: SPS). Its primary focus of operations is Gulf Coast, USA.
Forward-Looking Statements: This document may include forward-looking statements. Forward-looking statements include, but are not necessarily limited to, statements concerning Sprint Energy Limited’s planned exploration program and other statements that are not historic facts. When used in this document, the words such as “could”, “plan”, “estimate” “expect”, “intend”, “may”, “potential”, “should” and similar expressions are forward-looking statements. Although Sprint Energy Limited believes that its expectations reflected in these are reasonable, such statements involve risks and uncertainties, and no assurance can be given that actual results will be consistent with these forward-looking statements.
+61 3 9692 7222
+61 3 9529 8057 www.sprintenergy.com.au
Sprint Energy Ltd St Kilda Victoria 3182