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MINBOS RESOURCES LIMITED — Capital/Financing Update 2018
May 9, 2018
65355_rns_2018-05-09_524449d2-6d91-4776-a01c-25141f3886ab.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
PLACEMENT AND NON-RENOUNCEABLE RIGHTS ISSUE
10 May 2018
Minbos Resources Limited (ASX:MNB) (“ Minbos”; or “the Company” ) is pleased to announce that it has successfully completed a placement having received firm commitments from sophisticated and institutional investors to raise A$717,550 at $0.002 per share ( Placement ).
Subsequent to completion of the placement, the Company is also undertaking a non-renounceable 1:1 entitlement issue to raise approximately A$2,827,281 at $0.001 per share (before costs and expenses of the offer) ( Rights Issue ). Shares in Minbos will trade ex-entitlement from Tuesday 15[th] May 2018.
The capital raised from the Placement and Rights Issue will be directed towards exploration on the Company’s current projects and for working capital purposes.
Aesir Capital Pty Ltd acted as Lead Manager for the Placement.
Details of the Placement and Rights Issue are set out below:
Placement
Minbos have received firm commitments for a placement of fully paid ordinary shares in the Company ( Placement Shares ) pursuant to ASX Listing Rule 7.1. Details are as follows:
| Number of Placement Shares placed: | 358,775,000 |
|---|---|
| Identity of investors under the Placement: | Sophisticated and institutional investors under section 708 of the Corporations Act 2001 (Cth) |
| Price per Placement Share: | A$0.002 |
| Date of issue of the Placement Shares: | The Placement Shares are to be issued on, Monday 14 May 2018. |
| Application for quotation: | Appendix 3B in regard to the issue of the Placement Shares will be lodged with the ASX on, Monday 14 May 2018. |
| Cleansing notice | It is anticipated that the cleansing notice (given under section 708A(5)(e) of the Corporations Act) will be lodged with the ASX on, Monday 14 May 2018. |
ASX Code: MNB Office: Suite 1, 245 Churchill Avenue, Subiaco WA 6008 T: +61 8 6270 4610 E: [email protected] W: www.minbos.com ABN: 93 141 175 493
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The Company will pay a fee of 6% on all funds raised under the Placement. Aesir Capital Pty Ltd (Aesir Capital) (ABN: 50 615 591 976) is a Corporate Authorised Representative (AR: 001250164) of KP International Group Australia Pty Ltd (AFSL: 334191). Minbos director Damian Black is a director and shareholder of Aesir Capital, with the Placement fee an industry standard fee and negotiated on arm’s length commercial terms.
Rights Issue
Overview
Under the Rights Issue, shareholders who are registered with an address in Australia or New Zealand at 5.00pm WST on 16 May 2018 ( Shareholders and Record Date , respectively) may subscribe for one (1) fully paid ordinary share in the Company ( New Share ) for every one (1) ordinary shares held on the Record Date, at an issue price of A$0.001 (0.1 cents) per New Share ( Price ).
Rights Issue Timetable
The anticipated timetable for the Rights Issue is as follows:
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Event Date
Announcement of Rights Issue documents – announcement of Rights Issue
Offer Document, ASX Appendix 3B and the Cleansing Notice (given under Friday, 11 May 2018
section 708AA(2)(f) of the Corporations Act) lodged with the ASX
'Ex' date – the date on which Shares commence trading on an "ex" entitlement
Tuesday, 15 May 2018
basis
Record Date – the date for determining entitlements of Shareholders to Wednesday, 16 May
participate in the Rights Issue (5.00pm WST) 2018
Offer Document sent to Shareholders – dispatch of Offer Document and
Entitlement and Acceptance Forms, and lodgement of cleansing notice – Rights Monday, 21 May 2018
Issue opens for acceptances
Closing date – the last day for receipt of Entitlement and Acceptance Forms Wednesday, 30 May
(5.00pm WST) 2018
Shortfall notification date Monday, 4 June 2018
Wednesday, 6 June
Allotment – allotment of New Shares
2018
Despatch date – despatch of Transaction Confirmation Statements Thursday, 7 June 2018
Expected commencement of normal trading in New Shares on ASX Thursday, 7 June 2018
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This timetable is indicative only. Subject to the ASX Listing Rules and the Corporations Act, the Directors reserve the right to vary the dates for the Offer at their discretion. Should this occur, then the extension will have a consequential effect on the anticipated date of issue and normal trading of the New Shares.
Rights Issue Offer Document
Full details of the Rights Issue can be found in the Offer Document and Appendix 3B lodged with ASX today. Minbos anticipates that the Offer Document and accompanying Entitlement and Acceptance Form will be dispatched to eligible shareholders on Monday, 21 May 2018.
For further information, please contact:
Lindsay Reed Nick Day Damian Black Chief Executive Officer Company Secretary Aesir Capital Pty Ltd [email protected] [email protected] [email protected] +61 8 6270 4610 +61 8 6270 4610 +61 411 166 530
About Minbos
Minbos Resources Limited ( ASX: MNB ) is an ASX-listed exploration and development company with interests in phosphate ore within the Cabinda Province of Angola and Rare Earth Elements in Madagascar.
The Company’s strategy is to specifically target the exploration and development of low cost mineral projects.
For more information, visit www.minbos.com .