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FireFly Metals Ltd. — Capital/Financing Update 2015
Nov 18, 2015
48548_rns_2015-11-18_cef60f6b-3f91-4a4d-8997-d35950f0189a.pdf
Capital/Financing Update
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Exploration Office Level 3, 100 Pirie Street ADELAIDE SA 5000
ABN: 96 110 336 733
Tel: +61 8 8232 8320 Fax: +61 8 8232 8811 www.monaxmining.com.au
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19 November 2015
Share Purchase Plan
Summary
Monax Mining Limited ( Monax or the Company ) is pleased to announce a Share Purchase Plan ( SPP ) to raise up to $706,377.
Proceeds raised through the SPP will firstly be allocated to accelerating exploration activities on the Company’s newly acquired Mt Ringwood Gold Project in the Northern Territory. Monax notes that a strong shareholder participation in the SPP will enhance the Company’s ability to co-fund exploration on the Western Gawler Craton project based on a 10% project interest.
The SPP is scheduled to open on 26 November 2015 and close on 11 December 2015.
SPP Terms
The issue of shares under the SPP will be limited to 70,637,771 new fully paid ordinary shares at $0.010 each to raise a maximum of $706,377 (30% of the number of fully paid ordinary shares of the Company already on issue). If applications for more than 70,637,771 new fully paid ordinary shares are received, the Company may, in its absolute discretion, undertake a scale-back to the extent and in the manner it sees fit.
The issue price of $0.010 per share under this SPP represents a 16.8% discount to the 5-day volume weighted average market price of the Company’s shares on the Australian Stock Exchange ( ASX ) taken as at market close 18 November 2015.
The SPP offer provides existing shareholders the opportunity to acquire additional ordinary shares in the Company up to a maximum value of $15,000. The SPP facilitates shareholders with less than 50,000 shares at the current price (unmarketable parcel) to lift their holding to a marketable parcel size.
Monax directors reserve the right to close the SPP early. Applications will be accepted and allocated on a first come, first accepted basis, as the Company’s directors decide. Participation in the SPP is optional and the right to participate is not transferable.
The complete terms and conditions of the SPP will be distributed in the next week. Please read the documents carefully before making a decision as to whether to participate in the SPP.
Monax notes that shareholders with an address on the Company’s register in Australian or New Zealand at the close of business on 18 November 2015 ( Eligible Shareholders ) can purchase SPP shares without incurring brokerage costs.
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Indicative SPP Timetable
| EventDate | EventDate | EventDate | EventDate | EventDate |
|---|---|---|---|---|
| SPP Record Date18 November 2015 | ||||
| SPP announced19 November 2015 | ||||
| SPP Oenin Date | 26 November 2015 | |||
| pg | ||||
| SPP Closing Date | 11 December 201 | 5 | ||
| SPP results announced | 14 December 201 | 5 | ||
| SPP shares issued | 18 December 201 | 5 | ||
| Quotation of new shares | 21 December 201 | 5 | ||
The timetable above is indicative only and may be subject to change. Monax reserves the right to vary the timetable without notice. The commencement of trading of new shares is subject to confirmation from the ASX.
For further information, please contact:
Gary Ferris Managing Director Monax Mining Ph: 0423 259 488 Email: [email protected]
Duncan Gordon Adelaide Equity Partners Investor Relations Ph: 0404 006 444 [email protected]
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