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MEEKA METALS LIMITED — Capital/Financing Update 2012
Sep 5, 2012
65312_rns_2012-09-05_4df5b5e5-3bd6-4276-933c-10cac68816c9.pdf
Capital/Financing Update
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6[th] September, 2012
Market Announcements Platform Australian Securities Exchange
MANDATE SIGNED FOR PLACEMENT OF RIGHTS ISSUE SHORTFALL and FURTHER PLACEMENT
HIGHLIGHTS
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Mandate awarded to Ventnor Securities and BBY
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Placement of rights issue shortfall to raise $673,649
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Further placement to raise $800,000
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Two Ventnor / BBY nominees to be appointed to IRG Board
The Directors of Integrated Resources Group Ltd (“IRG”, “the Company”) are pleased to announce the signing of a mandate agreement with Ventnor Securities Pty Ltd and BBY Limited (“Ventnor and BBY”) for the placement of the shortfall from IRG’s recent rights issue and for an additional placement, to raise a combined $1,474,000.
The key terms of the agreement are as follows:
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i) Ventnor and BBY will place the shortfall from the rights issue, being 336,824,510 fully paid ordinary shares at an issue price of 0.2 cents per share within 7 days. These funds from the shortfall placement will be held in escrow pending IRG shareholder approval in (ii) below.
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ii) Ventnor and BBY will manage a further S708 (Corps Act) Sophisticated investor placement, subject to IRG shareholder approval, of 400 million shares at 0.2 cents per share. The placement shares will each have a free attaching (unlisted) option to subscribe for a further share at an exercise price of 0.225 cents per option with an expiry date of 30 June 2015.
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iii) Two nominees of Ventnor Securities / BBY are to be appointed Directors at completion of the placement in (ii) above. Existing Director, Mr Glenn Parker, will retire so that the remaining total Directors will number four.
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----- Start of picture text ----- www.integratedres ources .com.au----- End of picture text -----
Integrated Resources Group Limited ABN 23 080 939 135 Suite 2003, 109 Pitt Street NSW 2000 P (02) 9962 8053 F (02) 9475 1060
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Chairman Mr Tim Moore said: “The agreement with Ventnor and BBY is a very positive one for IRG. It not only provides financial security for the company but brings to the Company the recognised industry skills of the Ventnor Capital team who are specialists in the development of junior mineral exploration companies. This will be of great benefit as we look to broaden the Company’s exploration activities beyond the Lyndon project.”
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Timothy J. Moore Chairman
About IRG
Integrated Resources Group Ltd (“IRG”) is an ASX-listed mineral exploration company, focused on exploration and evaluation of the Lyndon gold-copper project in the Gascoyne region of Western Australia. .
About Ventnor Securities
Ventnor Securities Pty Ltd is a specialised west Perth investment house that is experienced in providing exploration / venture capital to early stage global mining and exploration companies across all commodities.
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