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MINREX RESOURCES LIMITED — Capital/Financing Update 2020
Mar 12, 2020
65375_rns_2020-03-12_f65d50d1-9d47-4a02-9b40-329bfaa28ad8.pdf
Capital/Financing Update
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ASX AND MEDIA ANNOUNCEMENT
13 March 2020
UNSECURED LOAN NOTES IN DEBT FOR EQUITY SWAP & EXTENSION OF CLOSING DATE FOR NON-RENOUNCEABLE PRO-RATA RIGHTS ISSUE
MinRex Resources Limited (ASX: MRR) (“MinRex” or “the Company”) is pleased to note that on 11 March 2020 Shareholders approved the conversion of the unsecured Loan Notes totalling $1 million, to 100 million ordinary shares in the Company at $0.01 per share. Following approval of this debt for equity swap, Directors have resolved to convert the Loan Notes and allot these shares to the holders of the former unsecured Loan Notes on Monday, 16 March 2020. An appendix 2A will be lodged with the ASX on that day, seeking quotation of these new shares.
The Directors of the Company have noted with concern, the continuing spread of the Coronavirus (COVID-19) around the World and the disruption that this new virus has not only had on all Financial Markets, but on all mankind as well.
In noting these concerns, Directors have today resolved to extend the closing date of the nonrenounceable rights issue currently on foot, to the close of business on Friday, 24 April 2020.
Set out below is the revision to the current timetable.
| Event | Date |
|---|---|
| Last day to extend ClosingDate | 13March 2020 |
| ClosingDate ofOffers (5pm AWST) | 24 April 2020 |
| Shares quoted ona deferred settlement basis | 27 April 2020 |
| Announcement of Results of Issue | 29April 2020 |
| Last day for the entity to issue the Securities and lodge anAppendix 2A with ASX applying for quotation of the Shares | 1 May 2020 |
This ASX release was approved by the Board and authorised for release to the market by Company Secretary, Aida Tabakovic.
For further information, please contact:
Simon Durack Executive Director MinRex Resources Limited Ph: (08) 9486 8806
______________________________________________________________________________________________ MinRex Resources Limited Suite 159, Level 2, Equus ABN 81 151 185 867 580 Hay Street Perth WA 6000
P: +61 8 9486 8806
E-mail: [email protected]