AI assistant
NEX METALS EXPLORATION LIMITED — Capital/Financing Update 2012
Jun 21, 2012
65427_rns_2012-06-21_0bc899be-a9b4-4a50-93c0-1af1b3098824.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
ABN 63 124 706 449
Address: Unit 2, 42 Terrace Road East Perth WA 6004, Australia Postal: PO Box 6731, East Perth WA 6892, Australia Phone: 61 8 9221 6813 Fax: 61 8 9221 3091 Email: [email protected]
22 June 2012
Australian Securities Exchange 2 The Esplanade Perth WA 6000
Standby Subscription Agreement
The Directors of Nex Metals Explorations Ltd (Nex or the Company) advise that the Company has secured a $7,000,000.00 Standby Subscription Agreement with Melbourne Institutional Investor Gurney Capital Nominees Pty Ltd (Gurney Capital).
The agreement provides for a 5 year term and a share issue price of 80% of the 5 day volume weighted average price (VWAP).
Mr Timothy Clark Director of Gurney Capital commented that he is delighted to be working with Nex in developing its existing projects.
The Company will provide shareholders with a production up date in the coming week in light of the Toll Treating facility not being in production mode.
---Ends---