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LIVIUM LTD — Capital/Financing Update 2009
Oct 25, 2009
65239_rns_2009-10-25_1740d5cb-6bf8-4eb7-9101-ff8813b5cf26.pdf
Capital/Financing Update
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ABN 29 126 129 413
FIRST QUARTER ACTIVITIES REVIEW For the period ending 30 September 2009
Executive Summary
Midwinter Resources NL (“Midwinter”) has a strong cash position with approximately $4.1m in cash assets with minimal commitments. This equates to a cash backing of 16.4 cents per share.
Midwinter is an Australian based minerals exploration company and it successfully floated on the ASX on 30 October 2007. It was established to generate significant shareholder wealth by identifying, acquiring, exploring and/or developing substantial mineral projects that possess the potential for significant cashflow and/or exploration upside.
Midwinter maintains an active program of identifying projects in any jurisdiction that satisfy the corporate strategy of the Company.
Priority Issue of Options
On 22 September 2009 Midwinter lodged a Priority Issue Prospectus with the ASX. The Priority Issue (“the Issue”) was on a pro rata basis of one (1) new option for every one (1) Listed Option at a price of $0.002 held by Optionholders on 30 September 2009. It is envisaged that the Issue will raise up to $36,700 which after costs will be used as working capital.
Corporate Update
The company has $4.12 million in cash assets as at 30 September 2009.
For further information, please contact:
Jon O’Callaghan Chairman Midwinter Resources NL Phone: +61 8 9388 2816 Email: [email protected]
ENDS
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