AI assistant
ELEMENT 25 LIMITED — Capital/Financing Update 2019
Jun 2, 2019
64810_rns_2019-06-02_6cf1ec41-8bdc-4c83-806b-8aca398b0140.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
ASX ANNOUNCEMENT
3 June 2019
Share Purchase Plan Closes and Shortfall Placement
Element 25 Limited ( E25 or Company ) is pleased to advise the Share Purchase Plan (SPP) announced on 8 May 2019 closed on Wednesday, 29 May 2019. The Company will allot new shares in the capital of the Company following receipt of valid applications totalling $918,000.
The Company would like to thank all shareholders who participated in the SPP for their ongoing support and commitment.
E25 is pleased to report that it has received commitments, via a placement to sophisticated investors (Placement), on the same terms as the SPP, to raise $420,250. Allotment of the new shares under the Placement is scheduled to occur on or about 7 June 2019. The Placement will be completed using the Company’s existing placement capacity under listing rule 7.1.
The SPP and Placement collectively raised $1,338,250.
The funds raised will allow the Company to accelerate the Pre-Feasibility Study on the Company’s 100% owned Butcherbird Manganese Project.
John Ribbons
Company Secretary
Company Snapshot
ASX Code: E25 Board of Directors: Shares on Issue: 84M Seamus Cornelius Chairman Share Price: $0.185 Justin Brown ED Market Capitalisation: $15.5 John Ribbons NED
Element 25 Limited is developing the world class Butcherbird manganese project in Western Australia to produce high purity manganese sulphate for lithium ion batteries and electrolytic manganese metal.
Element 25 Limited Level 2, 45 Richardson Street, P +61 8 6315 1400 West Perth, WA, 6005 E [email protected] PO Box 910 West Perth WA 6872 element25.com.au Australia
==> picture [57 x 25] intentionally omitted <==
Page 1