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MINDAX LIMITED — Capital/Financing Update 2020
Jul 14, 2020
65308_rns_2020-07-14_5df257a7-7b2b-47b3-83d4-c4191bbfb462.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT – 15 July 2020
Rights Issue Shortfall Notice
Mindax Limited (ASX: MDX ) announced on 12 June 2020 the Company was conducting a nonrenounceable offer to eligible shareholders on the basis of two (2) New Shares for every five (5) Shares held on the Record Date at an issue price of $0.005 per New Share to raise approximately $2.081 million (before costs) (Rights Issue).
Proceeds from the Rights Issue will be applied to progress the Mt Forrest Iron Project, to re-assess the Meekatharra Gold Project, to the costs of the Offer and the Company’s ongoing working capital requirements.
The Company confirms the Rights Issue closed on 10 July 2020 with the following result:
| New Shares | |
|---|---|
| Total number of New Shares offered: | 416,328,544 |
| Number of New Shares applied for: | 3,137,416 |
| Shortfall applications received: | 41,000,000 |
| Remaining Shortfall: | 372,191,128 |
The Company will proceed to place the remaining shortfall balance of 372,191,128 New Shares and will keep the market fully informed of its progress.
Authorised for release by:
Dennis Wilkins Company Secretary Tel: +61 8 9389 2111
MINDAX LIMITED