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IRON BEAR RESOURCES LTD — Capital/Financing Update 2018
Jun 28, 2018
65091_rns_2018-06-28_d03fdd4b-8234-4728-bab1-f49fe1f1cac3.pdf
Capital/Financing Update
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ASX Announcement 29 June 2018
Placement
Australian resources and investment company, Cape Lambert Resources Limited (ASX: CFE) ( Cape Lambert or the Company ) is pleased to announce that it has completed a placement of 23,826,667 fully paid ordinary shares ( Shares ), at an issue price of $0.03 per Share to raise cash proceeds of $580,000 (before expenses) and to settle creditors of the Company of $134,800 ( Placement ).
The funds raised will be used towards funding its exploration expenditure activities at the Kipushi Cobalt-Copper Tailings Project in the Democratic Republic of Congo and for general working capital purposes.
Cape Lambert’s Chairman, Tony Sage, said “this is a very good result given the market conditions and shows confidence in our DRC and Zambian located copper/cobalt projects”. Mr Sage added, “the scoping study on Kipushi is almost complete and will be released with the next 2 weeks. ”
The Company confirms it resolved to raise the capital by way of a placement to sophisticated and professional investors as this was considered to be the most expedient mechanism for raising funds in a timely manner. Shares and pursuant to the Placement will be issued in accordance with the Company’s capacity under Listing Rules 7.1 and 7.1A once all funds have been received.
Cape Lambert Resources Limited (ASX: CFE) is a mineral development company with exposure to iron ore, copper, gold, uranium, cobalt, lithium and lead-silver-zinc assets in Australia, Europe, Africa and South America.
Australian Securities Exchange Code: CFE
Ordinary shares 914,883,549
Unlisted Options 23,500,000 ($0.05 exp 31 Dec 2018) 15,336,363 ($0.07 exp 12 Mar 2020) 7,667,727 ($0.07 exp 19 Mar 2020) 5,250,000 ($0.04 exp 31 Mar 2020)
Board of Directors
Tony Sage Executive Chairman
Tim Turner Non-executive Director
Stefan Muller Non-executive Director
Melissa Chapman Company Secretary
Yours faithfully Cape Lambert Resources Limited
Tony Sage Executive Chairman
Wimmer Financial acted as corporate finance advisor and placement agent for the equity placing in UK and Europe:
Cape Lambert Contact
Investor Relations Phone: +61 8 9380 9555 Email: [email protected]
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Per Wimmer, CEO 2 Swallow Place, London W1B 2AE, UK Phone: (+44) 207.432.7501 E-Mail: [email protected] Website: www.WimmerFinancial.com
Cape Lambert Resources Limited ABN 71 095 047 920 Corporate - 32 Harrogate Street, West Leederville WA 6007