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MAGNETITE MINES LIMITED. — Capital/Financing Update 2016
Apr 4, 2016
65329_rns_2016-04-04_ff38e62d-7032-4d47-88bd-06f675fa1ab2.pdf
Capital/Financing Update
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ASX Announcement
5 April 2016
Confirmation of Exercise Price for Proposed Issue of Tranche B Options to Gordon Toll
Magnetite Mines Limited (ASX:MGT) ( Company ) advises that further to the Company’s announcement dated 1 March 2016 (Notice of proposed options issue – Listing Rule 3.10.3) ( Announcement ), the volume weighted average price of the Company’s shares for the 15 trading days immediately prior to 31 March 2016 was $0.017 (Source IRESS).
Accordingly, as detailed in the Announcement, the exercise price for the 10,000,000 Tranche B options that is proposed be issue to Mr Gordon Toll in lieu of cash remuneration (subject to shareholder approval and any necessary ASX waivers) will be $0.017.
For further information contact:
Frank DeMarte Company Secretary +61 8 8427 0516
Magnetite Mines Limited | ABN: 34 108 102 432 | 118B Glen Osmond Road, Parkside, SA 5063 | email: [email protected] | www.magnetitemines.com | Tel: +61 8 8427 0516 | Fax: +61 8 8427 0515