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MINBOS RESOURCES LIMITED — Capital/Financing Update 2014
Feb 16, 2014
65355_rns_2014-02-16_f0db690f-051b-4171-a8c3-89a6b994d65d.pdf
Capital/Financing Update
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17 February 14
ASX Code: MNB PERTH OFFICE Level 1, 278 Stirling Hwy Claremont WA 6010 Australia T: +61 8 9322 9295 E: [email protected] W: www.minbos.com
ABN: 93 141 175 493
ASX ANNOUNCEMENT/MEDIA RELEASE
CANCELLATION OF PRO-RATA RENOUNCEABLE RIGHTS ISSUE
Minbos Resources Limited ACN 141 175 493 ( Company ) advises the cancellation of its pro-rata renounceable rights issue of 3 fully paid ordinary shares in the capital of the Company ( Share ) for every 7 Shares held, at an issue price of $0.01 per Share, to raise up to approximately $1,102,067 (before costs) ( Entitlement Offer ), closed at 5.00pm on 7 February 2014.
Despite the fact that the Entitlement Offer was fully underwritten by Bethesda Investment Corp and Copper Mining Venture, LDA ( Underwriters ), the Company is aware that the Underwriters have not been able to secure their own financing to fulfill their obligations and, as a result, the Company believes it is highly unlikely the Underwriters will subscribe for the shortfall of 103,536,248 Shares.
The Company advises that all investors under the Entitlement Offer will be refunded their application funds.
CPS Capital Group Pty Ltd is also working with the Company on an alternate financing strategy and the Company expects to make an announcement in the coming days.
ENDS
For further information please contact:
Scott Sullivan For media enquiries contact: Managing Director David Ikin – Professional Public Relations [email protected] [email protected] +61 (0) 8 9322 9295 +61 (0) 8 9388 0944
17 February 14
ASX Code: MNB PERTH OFFICE Level 1, 278 Stirling Hwy Claremont WA 6010 Australia T: +61 8 9322 9295 E: [email protected] W: www.minbos.com ABN: 93 141 175 493
About Minbos
Minbos Resources Limited ( ASX:MNB ) is an ASX-listed exploration and development company focused on phosphate ore within the Cabinda Province of Angola and the adjoining areas of the far western DRC. Through its subsidiaries and joint ventures, the Company is exploring over 400,000ha of highly prospective ground hosting phosphate ore.
Minbos is focussing on the development of the high grade Cacata project in Cabinda whilst growing its current resource base in incremental stages on the remaining deposits in Angola.
The Company’s strategy is to specifically target the exploration and development of low cost fertiliserbased commodities in order to tap into the growing global demand for fertilisers. Phosphate is an essential component in certain agricultural fertilisers, with the market supported by the increasing global demand for food and bio-fuel products.
For more information, visit www.minbos.com