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GENMIN LIMITED — Capital/Financing Update 2023
Mar 1, 2023
64979_rns_2023-03-01_4eecb2f7-f194-4d6d-b71c-4dd8ffe96062.pdf
Capital/Financing Update
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ASX Announcement
2 March 2023
Release of securities from escrow
African iron ore explorer and developer, Genmin Limited ( Genmin or the Company ) (ASX: GEN) advises, in accordance with Listing Rule 3.10A, that the securities in the table below ( Securities ) will be released from escrow on 10 March 2023. The Securities have been subject to escrow arrangements since the date that Genmin’s ordinary fully paid shares commenced trading on the official list of ASX ( Listing Date ) and will be released from escrow on the date that is 24 months from the Listing Date.
| Class | Escrow | Number |
|---|---|---|
| Ordinary shares | Mandatory | 127,345,384 |
| Ordinary shares | Voluntary | 128,939,583 |
| Unlisted options exercisable at USD0.15 on or before 31 July 2024 | Mandatory | 250,000 |
| Unlisted options exercisable at AUD0.442 on or before 7 March 2026 | Mandatory | 5,000,000 |
| Unlisted performance rights expiring 22 June 2024 | Mandatory | 720,000 |
Genmin will apply for quotation on ASX of the ordinary shares that were subject to mandatory escrow. The ordinary shares that are subject to voluntary escrow are already quoted on ASX.
The Company advises that, following the release of the Securities from escrow, there are no further securities that remain subject to either mandatory or voluntary escrow.
This announcement has been authorised by the Board of Directors of Genmin Limited.
For further information, please contact:
| Joe Ariti | Alex Cowie | Follow GEN |
|---|---|---|
| Managing Director & CEO | Investor Relations | |
| GENMIN Limited | NWR Communications | |
| T:+61 8 9200 5812 | M:+61 412 952 610 | |
| **E:**[email protected] | **E:**[email protected] |
GENMIN LIMITED | ASX:GEN | ACN 141 425 292 Address: London House, Suite 3, Level 8, 216 St Georges Terrace, Perth Western Australia 6000 Phone: +61 8 9200 5812 | Email: [email protected] | Web: genmingroup.com
ASX Announcement
About GENMIN
Genmin Limited (ASX: GEN) is an ASX-listed African iron ore exploration and development company with a pipeline of projects in the Republic of Gabon, west Central Africa. The Company has a 100% interest in three (3) projects comprising six (6) granted exploration licences covering approximately 5,064km[2] .
Genmin’s Baniaka and Bakoumba projects are located in south-east Gabon near the provincial city of Franceville, where the Company has an extensive footprint and controls all acreage prospective for iron ore. The Baniaka and Bakoumba projects represent a potential iron ore hub with 2,445km[2] of landholding and 121km of iron mineralised strike with only 13% drill tested with diamond drilling.
Genmin’s flagship project, Baniaka, is at feasibility stage with defined JORC Code (2012 Edition) compliant Mineral Resources and Ore Reserves and is favourably situated adjacent to existing and operating bulk commodity transport and renewable energy infrastructure.
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Figure 1: Location map of Genmin’s iron ore projects in Gabon
genmingroup.com | ASX:GEN
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