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IODM LIMITED — Capital/Financing Update 2012
Sep 2, 2012
65131_rns_2012-09-02_f8bc9593-3651-4cf2-87d0-ed6d3ef69421.pdf
Capital/Financing Update
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Suite 202, 122 Walker St W www.paradigmmetals.com.au North Sydney 2060 E [email protected] New South Wales T +61 2 9955 7130 AUSTRALIA F +61 2 8920 3576
ABN 28 102 747 133
ASX / Media Announcement
3 September 2012
Placement and Board Restructure
Paradigm Metals Limited (”PDM”, or “The Company”) is pleased to announce the private placement of 15% of its issued capital and a restructure of its Board. The Company has agreed to place 27,500,000 ordinary fully paid PDM shares at 0.8c per share to raise $220,000 before costs. The placement will be conducted under the Company’s existing placement capacity pursuant to Listing Rule 7.1. The placement has been made to Garrison Capital Pty Ltd and professional and sophisticated investor clients of Taylor Collison Limited. Paradigm intends to use the proceeds of the placement primarily for working capital purposes and for seeking new opportunities. It is expected the shares will be allotted on 7 September 2012.
Following completion of the placement, Brian McMaster from Garrison Capital Pty Ltd will join the PDM Board. Garrison Capital is a Perth based corporate advisory firm specialising in the acquisition, funding and management of resources opportunities globally. The Directors believe that Mr McMaster’s involvement in the Company will assist in developing additional opportunities for PDM.
John Gaskell will retire from the PDM Board by the end of September 2012. Mr Gaskell was a founding Director of the Company and the Directors have expressed their appreciation for Mr Gaskell’s contribution to the Company.
Yours faithfully,
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Stephen Lonergan Company Secretary and Director
Ph: (02) 9955-7130 Email: [email protected] Website: www.paradigmmetals.com.au
About Paradigm: Paradigm is an exploration and development Company with copper - gold properties located in New South Wales. It has interests in exploration permits prospective for copper and rare earth elements in the Cloncurry region of Queensland.
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