AI assistant
GATEWAY MINING LIMITED — Capital/Financing Update 2016
Oct 31, 2016
64999_rns_2016-10-31_65f3b413-7a36-4d73-acb3-aa8b47430926.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
ABN: 31 008 402 391 Level 11, 52 Phillip Street Sydney NSW 2000 GPO Box 225 Sydney NSW 2001 Tel: +61 2 8316 3998 Fax: +61 2 8316 3999 Website: www.gatewaymining.com.au Email: [email protected]
==> picture [146 x 89] intentionally omitted <==
31 October 2016
Share Placement
_
Highlights:
-
Company completes a share placement of 25,000,000 shares at $0.02 to raise $500,000
-
Shareholders to be provided the opportunity to purchase shares on the same terms
Gateway Mining Ltd (‘Gateway’ or ‘the Company’) is pleased to announce that it has completed a placement of 25,000,000 shares at $0.02 to raise total funds of $500,000 (‘the Placement’). The shares were placed to Sophisticated and Professional Investors.
The Placement was completed using the Company’s existing share capacity under Listing Rule 7.1.
The funds will be used to maintain the Company’s Gidgee Project and for working capital purposes.
As previously stated to the market, the Company has been actively conducting due diligence on several possible acquisition opportunities. It is at an advanced stage of negotiations with respect to a precious metals transaction.
The Company hopes to be able to provide an update to the market this quarter on the outcome of the process.
Should a transaction be announced, it is envisaged shareholders will be afforded the opportunity to participate in a rights issue placement on the same terms as the Placement.
Yours Faithfully
Gary Franklin Company Secretary