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DEVELOP GLOBAL LIMITED — Capital/Financing Update 2015
Dec 16, 2015
64801_rns_2015-12-16_c83600db-b6e4-4e24-9d13-07886df9169e.pdf
Capital/Financing Update
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ASX Announcement
ASX Code: VXR
Released: 17 Dec 2015
For further details
John Nitschke
Managing Director
T: +61 8 6389 7400
[email protected]
Board
Tony Kiernan
Chairman
John Nitschke
Managing Director
Anthony Reilly
Non-Executive Director
Darren Stralow
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
[email protected]
www.venturexresources.com
ABN: 28 122 180 205
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Venturex Raises $0.991m in Entitlement Issue
Venturex Resources (ASX: VXR) is pleased to advise that it has raised $0.991 million through its Non-Renounceable Entitlement Issue (“Offer”).
As at the close of the Offer on 14 December 2015, Venturex had received valid applications from eligible Shareholders for 178,325,414 available shares equating to 86.41% participation level.
| Maximum number of shares available under the 2:15 Entitlement issue |
206,382,557 | $1.03 million |
|---|---|---|
| Number of shares taken up by Shareholders (Entitlements) |
131,162,879 | $0.656 million |
| Number of additional shares taken up by Shareholders (in excess of Entitlements) |
47,162,535 | $0.236 million |
| Number of shares not taken by Shareholders (Shortfall Shares) |
28,057,143 | $0.140 million |
The 2:15 Entitlement Issue was underwritten to the value of $100,000 by one of the Company’s Directors, Mr John Nitschke. Mr Nitschke will receive 20,000,000 ordinary shares at the issue price of $0.005 per share as a consequence of the underwriting agreement. Mr Nitschke received no fee in relation to this underwriting agreement.
This takes the total funds raised before costs to $0.991 million.
Pursuant to the terms of the Offer, the Directors may, at their complete and absolute discretion, place some or all of the remaining 8,057,143 Shortfall Shares worth $40,285 with third parties within three months of the close of the Offer, at an issue price of not less than $0.005 per share. The new Shares are expected to be issued, and holding statements dispatched, on Monday, 21 December 2015.
JOHN NITSCHKE Managing Director
For further information, please contact:
John Nitschke / Trevor Hart – Venturex Resources Limited on (08) 6389 7400 or email: [email protected]
Media:
Nicholas Read – Read Corporate on (08) 9388 1474 or email: [email protected]
About Venturex Resources Limited
Venturex Resources Limited (ASX: VXR) is an exploration and development company with two advanced Copper Zinc Projects near Port Hedland in the Pilbara region of Western Australia. The two projects are the Panorama Project which includes the Sulphur Springs and Kangaroos Caves Resources plus 27km of prospective tenements on the Panorama trend and the Whim Creek Project which includes the Resources at the Whim Creek, Mons Cupri and Salt Creek mines together with the Evelyn project and 18,100 ha of prospective tenements over the Whim Creek basin. Our strategy is to restore the Sulphur Springs Project to shovel ready status, expand the Resources at Whim Creek and Mons Cupri and work with our partners Blackrock Metals to extend and expand the existing 5 tonne per day oxide copper heap leach and SXEW operation at Whim Creek.