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FORTUNA METALS LTD — Capital/Financing Update 2018
Jun 18, 2018
64952_rns_2018-06-18_b6d05540-2d6e-4190-a1b7-c56b0fd6e336.pdf
Capital/Financing Update
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ADDRESS PHONE EMAIL Unit 5, Ground Floor +61 (8) 9486 4036 [email protected] 1 Centro Ave, Subiaco ABN WEBSITE WA, 6005 Australia 96 095 684 389 www.frontierresources.com.au
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ASX: FNT
Market Announcements Platform
19 June 2018
Allotment of Placement Agreement Securities
Frontier Resources Limited ( Frontier ) is pleased to advise of the allotment of the following securities.
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325,000,000 fully paid ordinary shares, issued at $0.016 cents and 162,500,000 free attaching options, exercisable at $0.029, prior to 1 June 2020, have been allotted to Forise Investment Sydney Pty Ltd ( Forise ); and
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46,875,000 fully paid ordinary shares, issued at $0.016 cents and 23,437,500 free attaching options, exercisable at $0.029, prior to 1 June 2020, have been allotted to ACH Investments Pte Ltd.
Consideration of A$5,950,000 was received from Forise on 19 June 2018, acting as the second tranche payment of the A$6,000,000 Placement Agreement that was approved by shareholders at the Extraordinary General Meeting held on 15 May 2018.
An Appendix 3B, New Issue Announcement accompanies this release.
For additional information relating Frontier and our projects, please visit the website at www.frontierresources.com.au.
FRONTIER RESOURCES LTD
Paige McNeil, B.Ed,GradDipEd(Trng&Dev),GradDipACG,FGIA,GAICD,FAIM
Non-Executive Chairman
BACKGROUND:
Frontier Resources Ltd is focussed on mineral exploration in highly prospective Papua New Guinea (PNG). The Company is targeting copper+/- gold +/-molybdenum porphyries and intrusive related epithermal gold deposits on its Exploration Licences (Els), plus 2 significant EL Applications. Continued exploration and drilling is strongly warranted. The Papuan Fold Belt contains Frontier’s Bulago and Muller ELs and the Ok Tedi porphyry copper-gold Mine (located 80km WNW of Bulago), Porgera intrusive/ epithermal related gold Mine (120km east of Bulago) and Kili Teke porphyry copper-gold Deposit (50km east of Bulago).