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ESTRELLA RESOURCES LIMITED — Capital/Financing Update 2015
Aug 2, 2015
64878_rns_2015-08-02_ce8274e5-6962-4bc5-9451-70f8cdce7e74.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
Chile’s star in copper-gold
3 August 2015
ESTRELLA RESOURCES LIMITED ACN 151 155 207
AUSTRALIAN REGISTERED OFFICE: Level 15, 1 Alfred St Sydney NSW 2000 Australia
CONTACT DETAILS: Email: [email protected]
CHILE OFFICE: Santa Beatriz 294 Providencia, Santiago, Chile
ASX CODE: ESR
Capital Raising and Consolidation of Share Capital
The Directors of Estrella Resources Limited (ASX:ESR) (Estrella) are pleased to announce that Forrest Capital Pty Ltd (Forrest) have been appointed to undertake a Capital Raising by way of a Placement of Shares (Placement) to sophisticated investors.
In addition Estrella will undertake a share consolidation on a 4 for 1 basis.
Forrest Capital have received firm commitments to place 400 million shares at $0.003 per share to raise $1.2 million. It is proposed to issue the shares as follows:
- A total of 12 million shares to raise $36,000 will be issued immediately to sophisticated investors from the Company’s existing capacity.
Email: [email protected]
- 388 million shares to raise $1,164,000 are to be issued to sophisticated investors, subject to shareholder approval at a meeting of shareholders to be held on or about 9 September 2015.
Forrest will receive a capital raising fee of 6% of all funds raised under the proposed transactions.
As part of the agreement with Forrest, Estrella also intend to seek shareholder approval
-
for the issue of 125 million options to acquire shares at $0.006 per share to parties nominated by Forrest
-
to undertake a consolidation of the share capital of Estrella on the basis of 1 new share for every 4 shares existing shares.
Appointment/Resignation of Director
Estrella are pleased to advise the appointment of Mr Howard Digby to the Board with effect from 31 July 2015. Mr Digby has held a number of management positions in Australia and Asia Pacific including 12 years based in Hong Kong with pan-Asia responsibilities. Mr Digby is a non-executive director of Sun Biomedical.
Mr Jason Berton resigned as a director with effect from 31 July 2015 and the board take this opportunity to thank Mr Berton for his contribution to Estrella.
For further information contact:
Guy Robertson Company Secretary 0407 983 270
AUSTRALIA | CHILE