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LION SELECTION GROUP LIMITED. — Capital/Financing Update 2017
Oct 18, 2017
65271_rns_2017-10-18_da33913f-6149-455b-9aec-bb57dec93475.pdf
Capital/Financing Update
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19 October 2017
ASX RELEASE : LSX
Completion of Share Purchase Plan
Lion Selection Group Limited ( Lion ) is pleased to announce the successful completion of its Share Purchase Plan (SPP) of new fully paid ordinary shares at 35 cents per share.
The SPP was very well supported by existing shareholders who subscribed directly for a total of $2.8 million which is in excess of the amount contemplated in the announcement of 18 September 2017. The Board has taken the decision to accept all valid applications.
The total amount raised under the Institutional placement ($2.7m) and the expanded SPP is $5.5m.
The proceeds from the capital raising will strengthen Lion’s cash position and enable opportunistic participation in deal flow in junior miners including further investment in EganStreet Resources Limited.
Shares under the SPP will be allotted on Friday 20 October 2017.
Lion Selection Group Limited ABN 26 077 729 572 Level 2, 175 Flinders Lane, Melbourne Vic 3000 T: +61 3 9614 8008 F: +61 3 9614 8009 www.lsg.com.au
Further enquiries: Hedley Widdup E: [email protected]