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DEVELOP GLOBAL LIMITED — Capital/Financing Update 2022
Mar 17, 2022
64801_rns_2022-03-17_2226ac8f-da42-435a-a3f1-e57b3a4d183c.pdf
Capital/Financing Update
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ASX Announcement 18/03/2022
Not for release to US wire services or distribution in the United States
Update to Retail Shortfall Amount
Further to its announcement on Thursday, 17 March 2022, Develop Global Limited (“Develop”) wishes to advise an update to the final number of shortfall shares under the retail component of its fully underwritten pro rata accelerated non renounceable entitlement offer ("Retail Entitlement Offer"). The final number of shortfall shares under the Retail Entitlement Offer is approximately 2.52m shares ("Shortfall Shares").
The Shortfall Shares are expected to be issued on Tuesday, 22 March 2022.
This announcement has been authorised for release to ASX by Develop's Managing Director, Bill Beament.
Contact
INVESTORS MEDIA Bill Beament Paul Armstrong Develop Read Corporate P: +61 8 6389 7400 P: +61 8 9388 1474 E: [email protected] E: [email protected]
About Develop
Develop (ASX: DVP) is an exploration and development company with a zinc-copper mine under C&M near Sydney in New South Wales and two advanced copper-zinc projects near Port Hedland in the Pilbara region of Western Australia. The C&M asset is the Woodlawn mine, a significant VMS geological system with over a 20-year production track record. The asset is planned for significant exploration to underpin a new mine plan. The two projects are the Sulphur Springs Project which includes the Sulphur Springs and Kangaroos Caves deposits, plus 27km of prospective tenements on the Panorama trend; and the JV on 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. The Company’s focus is to explore Woodlawn and bring it back to full production, and to finance its high-quality Sulphur Springs Project, paving the way for its transformation into a new major ASX-listed base metal producer in the medium term. This will position it to be a long-term supplier of copper and zinc to global markets at a time when significant shortfalls are expected for both metals, especially copper.
IMPORTANT NOTICE
This announcement has been prepared for publication in Australia and may not be released to US wire services or distributed in the United States. This announcement does not constitute an offer of securities for sale in the United States or any other jurisdiction in which such an offer would be illegal. Any securities described in this announcement have not been, and will not be, registered under the US Securities Act or 1933 (as amended) or offered or sold, directly or indirectly, in the United States except in transactions exempt from, or not subject to, the registration of the US Securities Act of 1933 (as amended) and applicable securities laws of any state or other jurisdiction of the United States.