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MIRAMAR RESOURCES LIMITED — Capital/Financing Update 2023
Jul 19, 2023
65281_rns_2023-07-19_2cea0fb6-1559-4d44-83f3-ac4ab03f65ba.pdf
Capital/Financing Update
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ASX: M2R | 20 July 2023
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RIGHTS ISSUE CLOSED
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Fully underwritten non-renounceable rights issue (Rights Issue) raised $544,634
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Shareholders subscribed for 8,702,394 Shares and 836,813 Shortfall Offer
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Underwriter subscribed for 8,948,594 under the Shortfall Offer
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Funds raised will be allocated for upcoming exploration programmes at the Company’s 100%owned Whaleshark and Bangemall projects in the Ashburton and Gascoyne regions of Western Australia
Miramar Resources Limited (ASX:M2R, “ Miramar ” or “the Company ”) is pleased to advise that the Rights Issue ( Rights Issue ) announced on 28 June 2023 has closed and raised $544,634 (before cost).
The Rights Issue was fully underwritten by Westar Capital Pty Ltd ( Westar or Underwriter ) and as such, the Shares forming the Shortfall Offer will be issued and allotted in accordance with the Underwriting Agreement.
Funds raised from the Rights Issue will primarily be used for upcoming exploration programmes at the Company’s 100%owned Whaleshark and Bangemall projects in the Ashburton and Gascoyne regions of WA, and to fund the Company’s working capital.
The results from the Rights Issue are set out below:
| Funds raised | ||||
|---|---|---|---|---|
| Description | No of Shares | (before cost) | ||
| Entitlement Shares taken up by Eligible Shareholders | 8,702,394 | $261,072 | ||
| Shortfall Offer taken up by Eligible Shareholders | 836,813 | $25,104 | ||
| Shortfall Offer allocated to Underwriter | 8,948,594 | $258,458 | ||
| Total | 18,487,801 | $544,634 |
The Shares are expected to be issued on Monday, 24 July 2023, in accordance with the timetable.
For more information on Miramar Resources Limited, please visit the company’s website at www.miramarresources.com.au, follow the company on social media on social media (Twitter @MiramarRes and LinkedIn @Miramar Resources Ltd) or contact:
Allan Kelly Mindy Ku Executive Chairman Company Secretary
This announcement has been authorised for release by Mr Allan Kelly, Executive Chairman, on behalf of the Board of Miramar Resources Limited.
ASX: M2R | ABN 34 635 359 965 | Unit 1, 22 Hardy Street, South Perth, Western Australia 6151 PO Box 810, South Perth WA 6951 | miramarresources.com.au | [email protected] | +61 (8) 6166 6302