DEVELOP GLOBAL LIMITED — Capital/Financing Update 2013

Apr 29, 2013

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ASX Announcement
ASX Code: VXR
Released: 30 April 2013
For further details
Michael Mulroney
Managing Director
T: +61 8 6389 7400
michael.mulroney@venturexresources.com
Board
Tony Kiernan
Chairman
Michael Mulroney
Managing Director
Ray Parry
Non-Executive Director
Jim Mellon
Non-Executive Director
Trevor Hart
Company Secretary
Contact Details
Registered Office
Level 2
91 Havelock Street
West Perth WA 6005
T: +61 8 6389 7400
F: +61 8 9463 7836
admin@venturexresources.com
www.venturexresources.com
ABN: 28 122 180 205
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Pro-Rata Non-Renounceable Rights Issue

Venturex Resources Limited ( Venturex or Company ) is undertaking twofor-eleven (2:11) non-renounceable rights issue to raise up to approximately $5.2 million (before costs) at an offer price of $0.02 per share ( Offer ).

The proceeds raised pursuant to the Offer will be used for:

Item of Expenditure	Amount ($)
Costs of the offer	50,000
Optimisation Program	300,000
Exploration in Australia	3,400,000
Exploration in Brazil	200,000
Exploration and development at the Whim Creek Site	500,000
General Working Capital	1,970,000
TOTAL	$6,420,000

Summary of the Offer

The Offer comprises of two (2) new fully paid ordinary shares in the capital of the Company ( Shares ) for every eleven (11) existing Shares held by eligible shareholders at $0.02 per Share. As the Offer is nonrenounceable, the rights cannot be transferred or sold. Up to approximately 260.9 million fully paid ordinary shares in the capital of the Company will be issued pursuant to the Offer.

Shares issued under the Offer will rank equally with all fully paid ordinary shares in the capital of the Company which the Company currently has on issue. Shareholder approval is not required in relation to the issue of Shares pursuant to the Offer.

Further details of the Offer, including details of the timetable and key risks of the Offer, will be set out in a prospectus which is expected to be lodged with ASIC, released to the ASX and available on the Venturex website. Outlined below is a timetable of relevant events and dates relating to the Offer. These dates are indicative only and subject to change.

	Date
Lodgement of Prospectus and Appendix 3B with ASIC	30 April 2013
Notice sent to Shareholders	1 May 2013
Ex Date	2 May 2013
Record Date for determining Shareholder entitlements	8 May 2013
Prospectus despatched to Shareholders	10 May 2013
Closing Date of Offer	24 May 2013
Securities quoted on a deferred settlement basis	27 May 2013
Notify ASX of under-subscriptions	28 May 2013
Despatch date/Shares entered into Shareholders’	3 June 2013
security holdings

*The Directors may extend the Closing Date by giving at least 6 business days’ notice to ASX prior to the Closing Date. As such the date the new securities are expected to commence trading on ASX may vary.

Yours sincerely

MICHAEL MULRONEY Managing Director

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