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ECLIPSE METALS LIMITED. — Share Issue/Capital Change 2021
Jan 17, 2021
64863_rns_2021-01-17_3a3350be-44a2-4aaf-a330-5b71485eaf96.pdf
Share Issue/Capital Change
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18 January 2021
Information Required Under ASX Listing Rule 3.10.5A and 7.1A.4(B)
Eclipse Metals Limited (ASX: EPM) (EPM or the Company ) provides notice for the purposes of Listing Rules 3.10.5A and 7.1A.4(B), over the course of the 14 to 18 January 2021, 133,333,334 Ordinary Shares were issued at $0.015 pursuant to the Company’s additional 10% placement capacity in accordance with Listing Rule 7.1A.
The following information required under ASX Listing Rule 3.10.5A is now provided:
1. Dilution Effect
The dilution effect on existing shareholders is as follows:
| Number of Shares on issue prior to the Placement | 1,414,623,531 | |
|---|---|---|
| Number of Placement Shares issued under Listing Rule 7.1A | 133,333,334 | |
| Number of Shares on issue following the Placement | *** | 1,759,956,865 |
| Total dilution as a result of the Placement | 9.42% |
- *** Included in this total number of Shares is the 212,000,000 Consideration Shares for the acquisition of the Ivittuut Project being MEL 2007-45 (Tenement) in Greenland and associated mining information in relation to the Tenement.
2. Why an issue under ASX Listing Rule 7.1A
The Company issued the Shares as a Placement under ASX Listing Rule 7.1A to sophisticated, professional and experienced investors as it was of the view, the placement represented the most efficient and expedient mechanism to raise immediate funds for working capital purposes to progress the Ivittuut Project as well as retaining the financial capacity to advance the Company’s existing Australian portfolio of uranium and manganese prospects.
3. Underwriting Agreement
This issue was not underwritten.
4. Cost of Issue
AUD$30,000 representing an advisory fee (1.5% of funds raised); and AUD$100,000 representing an AFSL participant fee (5.0% of funds raised)
Authorised for issue by Eryn Kestel, Company Secretary
ECLIPSE METALS LTD
Level 3, 1060 Hay Street, West Perth WA 6005 T: +61 8 9480 0420 | F: +61 8 9321 0320 ABN 85 142 366 541