AI assistant
HASTINGS TECHNOLOGY METALS LTD — Capital/Financing Update 2012
Apr 15, 2012
65037_rns_2012-04-15_dc0f1f9e-8585-4d6d-b8d7-10fefeec8de5.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
1
ASX Announcement 16 April 2012
==> picture [182 x 57] intentionally omitted <==
The Manager Company Announcements Office Australian Securities Exchange 4th Floor, 20 Bridge Street SYDNEY NSW 2000
Hastings Rare Metals Limited ACN 122 911 399
Level 9, 50 Margaret Street Sydney NSW 2000 PO Box R933 Royal Exchange NSW 1225 Australia
Telephone: +61 2 9078 7674 Facsimile: +61 2 9078 7661 [email protected] www.hastingsraremetals.com
Directors David Nolan (Chairman) Steve Mackowski (Director) Anthony Ho (Director)
Advisory Board Tony Grey Dr Tony Mariano
ASX Code: HAS
Shares on Issue 125 million
HASTINGS’ COMPLETES TRANCHE 2 OF CAPITAL RAISING
Australian rare earths company Hastings Rare Metals Limited (ASX Code : HAS) is pleased to announce that it has completed the capital raising announced on 8 February 2012.
Following approval at a shareholders meeting held on 11 April 2012 the Company has issued the remaining 20,600,000 shares at 10 cents per share raising $2.06 million. All subscription monies have been received and the shares have been allotted. The total capital raise was $5.4 million before costs.
The Company has attracted investment funds from both North America and Asia including a Japanese rare earth focused fund.
In addition, following shareholder approval received at the meeting held on 11 April 2012, the Company has issued a free attaching option on a one for one basis with an exercise price of 15c per share and an expiry date of 31 March 2014. The Company will make application to the ASX for quotation of the options.
Interest in the Hastings project is increasing as the technical team continues to progress test work. Funds raised will be used to further the Hastings project to pre-feasibility stage, including exploration to extend the size of the resource. In addition a portion of funds to be utilised to determine the potential of the Yangibana rare earth deposit which is high in critical rare earth Neodymium.
Patersons Securities Limited acted as lead manager and Alexander Cable acted as corporate adviser to the placement.
AddressLevel 9, 50 Margaret Street, Sydney NSW 2000Postal AddressPO Box R933 Royal Exchange NSW 1225 Australia Telephone02 9078 7674Fax 02 9078 7661Emailadmin@hastingsraremetals.comWebsitewww.hastingsraremetals.com ABN43 122 911 399
1
ASX Announcement 16 April 2012
==> picture [135 x 14] intentionally omitted <==
==> picture [135 x 15] intentionally omitted <==
==> picture [135 x 14] intentionally omitted <==
For further information contact:
David Nolan Chairman [email protected]
Steve Mackowski Technical Director [email protected]
Media contact:
Mark Westfield, Westfield Wright, Investor Relations +61 475 805 838
For further information please contact:
Hastings Rare Metals Limited, Tel: (02) 9078 7674 www.hastingsraremetals.com
==> picture [225 x 42] intentionally omitted <==
AddressLevel 9, 50 Margaret Street, Sydney NSW 2000Postal AddressPO Box R933 Royal Exchange NSW 1225 Australia Telephone02 9078 7674Fax 02 9078 7661Emailadmin@hastingsraremetals.comWebsitewww.hastingsraremetals.com ABN43 122 911 399
2