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MEEKA METALS LIMITED — Capital/Financing Update 2012
Jun 17, 2012
65312_rns_2012-06-17_94d04e30-e35f-408e-9c15-ea13ea531e95.pdf
Capital/Financing Update
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18[th] June, 2012
Company Announcements Office Australian Securities Exchange limited Exchange Centre 20 Bridge Street Sydney NSW 2000
Maryborough Basin Project Acquisition Not To Proceed
We refer to Integrated Resources Group Ltd’s (“IRG’s”, “the Company’s”) announcements of 20 April 2012 and 4 June 2012 in relation to the proposed acquisition of 100% of MAuB Pty Ltd, a company which holds 89-100% interests in the tenement package which makes up the Maryborough Basin gold-copper exploration project.
As advised on 4 June 2012, the acquisition agreement included a condition precedent that a minimum of $3.0 million in new equity capital be raised by 15 June 2012 (since extended to 15 July 2012).
As a consequence of adverse conditions in equity markets, it has become clear that this condition precedent can not be met. Further, as previously advised, the vendors of MAuB have advised that they are unwilling to vary the condition precedent. On this basis, IRG advises that the proposed acquisition is unable to be completed.
IRG’s Board and its largest shareholders remain committed to the development of the Company beyond its existing Lyndon property and continue to evaluate properties for acquisition.
Yours sincerely
Integrated Resources Group Limited
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J.G.Smith Company Secretary
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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