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EMETALS LIMITED — Capital/Financing Update 2015
May 21, 2015
64850_rns_2015-05-21_dc6ce1cb-21cf-4c34-887c-d52b91b63abb.pdf
Capital/Financing Update
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WEST PEAK IRON LIMITED
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ASX announcement
22 May 2015
ACN: 142 411 390 T: 08 6489 1600 F: 08 6489 1601
E: [email protected] Suite 9, 330 Churchill Avenue, Subiaco WA 6008 PO Box 866, Subiaco WA 6904
ENTITLEMENT ISSUE AND MANDATE
West Peak Iron Limited ( WPI ) advises the directors have resolved that WPI will undertake a non-renounceable entitlement issue of 1 fully paid ordinary share for every 1 share on issue at an issue price of $0.01 per share to raise up to $998,284 (based on the capital structure as at the date of this announcement) ( Offer ).
The funds raised from the Capital Raising (after expenses) are intended to be used for repayment of debt, expenditure on existing projects, due diligence associated with the appraisal of new project opportunities and general working capital purposes. WPI also advises that it has entered into a mandate with Cicero Advisory Services Pty Ltd (ACN 166 321 393) ( Cicero ) (an entity controlled by WPI director Mathew Walker) in relation to the proposed underwriting of the Capital Raising. WPI intends to negotiate the terms of a formal underwriting agreement with Cicero.
Further details of the Offer, including the timetable and underwriting, will be included in a prospectus intended to be lodged with ASIC within the next week and distributed to eligible shareholders shortly thereafter in accordance with the ASX Listing Rules.
Directors & Management
Gary Lyons: Chairman Mathew Walker: Director Teck Wong: Director Sonu Cheema: Company Secretary
Yours Faithfully By Order of the Board Mathew Walker Director
For further information contact: Mathew Walker, Director, West Peak Iron Ltd. Telephone: +61 8 6489 1600 Email: [email protected]
________________________ Issued Capital
99,828,400 ordinary shares ________________________