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FireFly Metals Ltd. — Capital/Financing Update 2017
Jun 13, 2017
48548_rns_2017-06-13_e6624cc7-0450-4dfa-b194-77386d79d14e.pdf
Capital/Financing Update
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14 June 2017
Share Purchase Plan
Summary
Monax Mining Limited ( Monax or the Company ) is pleased to announce a Share Purchase Plan ( SPP ) to raise up to $800,000.
Proceeds raised through the SPP will provide the Company with the requisite working capital to progress exploration and drilling activities at the Percyville and Croydon Projects and provide working capital to progress detailed due diligence on project opportunities.
The SPP is scheduled to open on 21 June 2017 and close on 7 July 2017.
SPP Terms
The issue of shares under the SPP will be limited to 133,333,333 new fully paid ordinary shares at $0.006 each to raise a maximum of $800,000. If applications for more than 133,333,333 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 $0.006 per share under this SPP represents 80.0% of the 5-day volume weighted average market price of the Company’s shares on the Australian Stock Exchange ( ASX ) taken as at market close 13 June 2017.
The SPP offer provides existing shareholders the opportunity to acquire additional ordinary shares in the Company up to a maximum value of $15,000, or intervals of $500, $1,000, $2,000, $5,000 and $10,000.
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.
Monax notes that shareholders with an address on the Company’s register in Australia or New Zealand at the close of business on 13 June 2017 ( Eligible Shareholders ) can purchase SPP shares without incurring brokerage costs.
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Indicative SPP Timetable
| Event | Date |
|---|---|
| SPP Record Date | Tuesday 13 June 2017 |
| SPP Announcement | Wednesday 14 June 2017 |
| SPP Offer documents despatched |
Tuesday 20 June 2017 |
| SPP Opening Date | Wednesday 21 June 2017 |
| SPP Closing Date | Friday 7 July 2017 |
| Issue of New Shares | Monday 17 July 2017 |
| Quotation of Shares on ASX | Tuesday 18 July 2017 |
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:
Kaitlin Smith Company Secretary Monax Mining Limited 08 8232 8800 [email protected]
Duncan Gordon Investor Relations Adelaide Equity Partners +61 404 006 444 [email protected]