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DATELINE RESOURCES LIMITED — Capital/Financing Update 2022
Aug 18, 2022
64793_rns_2022-08-18_c00b5d82-fc7a-4a9e-acb2-efa0223d302a.pdf
Capital/Financing Update
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ASX Release
DATELINE RESOURCES LIMITED
(ACN 149 105 653) ASX Code: DTR
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Placement of New Shares to Raise $6.25 Million
Dateline Resources Limited (ASX: DTR) ( Dateline or the Company ) is pleased to announce that it has received firm commitments from a number of sophisticated and professional investors to raise $6.25 million pursuant to a placement of 62,500,000 new shares in the Company (each, a New Share ) at $0.10 per New Share ( Placement ).
CAPITAL STRUCTURE
Share Price (17/08/22) $0.12
$47.6 million
In addition, the Company has also agreed to grant a total of 15,625,000 unquoted options over unissued New Shares (each, an Option ) to the participants in the Placement. The Options will have an exercise price of $0.135 and will be exercisable at any time on or before the third anniversary of their date of grant.
MAJOR SHAREHOLDERS
Under the Placement, 43,361,119 New Shares will be issued under the Company’s available Listing Rule 7.1 placement capacity and a further 743,175 will be issued under the Company’s remaining Listing Rule 7.1A placement capacity. The remaining 18,395,706 New Shares and the Options will be issued following Shareholder approval 7.1[1] .
DIRECTORS & MANAGEMENT
Mark Johnson AO Chairman
Stephen Baghdadi Managing Director
Greg Hall Non-Executive Director
Tony Ferguson Non-Executive Director
Bill Lannen Non-Executive Director
Mark Ohlsson Company Secretary
CONTACT Mark Ohlsson Phone: +61 2 9375 2353 Postal Address: P.O. Box 553 South Hurstville NSW 2221 Email: [email protected]
Use of Proceeds
The funds raised under the Placement will be used by the Company:
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to further gold and rare earths exploration at the Company's Colosseum Project in California;
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for general working capital (including to pay the costs of the Placement) purposes.
Placement Details
The issue price of $0.10 per new Share represents a discount of approximately 17% to the last traded price of Shares on ASX of $0.12.
The issue of the New Shares (other than those which are subject to Shareholder approval) is expected to occur on Friday, 26 August 2022.
This announcement has been authorised for release on ASX by the Company's board of directors.
For more information, please contact:
Stephen Baghdadi Managing Director +61 2 9375 2353
1 The Company will despatch meeting documents to Shareholders in coming days for a meeting to be held in late September 2022.