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ELEMENTOS LIMITED — Capital/Financing Update 2013
Jul 30, 2013
64837_rns_2013-07-30_024cf8c9-45d4-44dd-bb4b-73fd84ff42ec.pdf
Capital/Financing Update
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31 JULY 2013
ROCKWELL MERGER AND CAPITAL RAISING
Elementos Limited (ASX: ELT) (“Elementos” or the “Company”) is pleased to announce that it has agreed an unconditional merger transaction with Rockwell Minerals Limited (“Rockwell”).
Elementos has entered into an amended unconditional Merger Implementation Deed to acquire all the issued shares of Rockwell through the issue of Elementos shares. The revised terms provides for Rockwell shareholders to own 61.5% of the total issued share capital of the merged group, and the present Elementos shareholders 38.5%. The amended terms reflect Rockwell having more cash available for the merged company than previously contemplated.
Calvin Treacy, Chairman of Rockwell, will join the board of Elementos as the Managing Director. Corey Nolan will become an Executive Director and Richard Seville will join the board as a Non-Executive Director on closing of the merger. A. Anthony McLellan, James Calaway and Mark McCauley will resign from the board following completion of the transaction.
All the other terms of the offer remain the same as those outlined in the release dated 6 June 2013.
Elementos has also completed a private placement to sophisticated investors raising $100,000. The funds will be applied to completing the merger.
It is contemplated that a Bidders Statement and Notice of Meeting will be sent to shareholders in the week commencing 5[th] August 2013. The transaction is still subject to achieving the necessary shareholder and regulatory approvals. It is expected the transaction will close by the end of September 2013.
For more information please contact:
Corey Nolan Managing Director Phone: +61 (7) 3221 7770 Email: [email protected]
Elementos is an Australian, ASX-listed, copper and gold exploration company, with projects in Argentina, Chile and Australia. The properties are all in mineral rich, highly prospective provinces, with developed infrastructure nearby.
Please visit us at www.elementos.com.au
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