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DEVELOP GLOBAL LIMITED — Regulatory Filings 2021
Jun 16, 2021
64801_rns_2021-06-16_8593f992-2a90-4879-a0e1-2624bb1c815b.pdf
Regulatory Filings
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17 June 2021
ASX/Media Release
Share Placement Proceeds Received
Venturex Resources (ASX: VXR) advises that it has received total proceeds of $14 million from its recent share placement (see ASX release dated February 24, 2021).
Eligible shareholders have until 5.00pm AWST Monday, 12 July 2021 to take up the fully underwritten one-for-seven Entitlement Offer, which will raise a further $4.9m.
The Placement and Entitlement Offer shares will come with a one-for-two attaching option, exercisable at 13.5c with a two-year expiry. If all of these options are exercised, Venturex would receive a further $15.5 million net proceeds.
The Proceeds from the Equity Raising are intended to be used to fund:
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Development activities for the Sulphur Springs copper-zinc project including:
oTSF geotechnical verification of design -
Infill drilling at Sulphur Springs
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Regional exploration
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FEED study
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Corporate and general working capital
The Prospectus is available on Venturex’s website at www.venturexresources.com and on the ASX website at www.asx.com.au
The Entitlement Offer is fully underwritten by Argonaut Capital Limited (“ Underwriter ”) (see ASX release dated February 24, 2021).
-ENDS-
This announcement is approved for release to the ASX by the Board of Directors.
For further information, please contact:
Investors Media
Anthony Reilly Paul Armstrong Venturex Resources Limited Read Corporate P: +61 8 6389 7400 P: +61 8 9388 1474 E: [email protected] E: [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 Sulphur Springs Project which includes the Sulphur Springs Project, Kangaroos Caves Resource plus 27km of prospective tenements on the Panorama trend and the Whim Creek Joint Venture (VXR 20%) 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.
Venturex Resources Limited ABN: 28 122 180 205 Level 2, 91 Havelock Street, West Perth WA 6005 | PO Box 585, West Perth WA 6872 T: +61 8 6389 7400 | [email protected] |www.venturexresources.com
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