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ORBMINCO LIMITED — Capital/Financing Update 2021
Nov 16, 2021
65473_rns_2021-11-16_0cef0742-795f-4b9d-ba1e-6c7d8f5ba0c3.pdf
Capital/Financing Update
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Woomera Mining Limited
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Suite 116, 147 Pirie Street Adelaide SA 5000 [email protected] www.WoomeraMining.com.au
17 November 2021
ASX Announcement
CLOSE OF RIGHTS OFFER AND NOTIFICATION OF SHORTFALL
Woomera Mining Limited (ASX: WML) (‘Woomera’ or ‘the Company’) advises that its non-renounceable Rights Offer of 1 New Share for every 5 Shares held at an offer price of $0.019 per New Share closed as scheduled on Friday 12 November 2021.
The table below sets out the number of New Shares to be issued pursuant to the Rights Offer*.
| Summary | New Shares | Gross Proceeds |
|---|---|---|
| Total number of New Shares applied for by Eligible Shareholders | 31,593,869 | $0.600 m |
| Total number of New Shares applied for under the Shortfall Facility (oversubscriptions) | 19,073,561 | $0.362 m |
| Total Rights Offer and Shortfall acceptances | 50,667,430 | $0.962m |
| Maximum number of New Shares to be issued under the Rights Offer | 50,667,430 | $0.962 m |
*subject to rounding and receipt of cleared funds.
Between the proceeds received from the recently announced placement on 5 October 2021 and the Rights Offer, the Company has now raised approximately $2,262,681.
The New Shares associated with the applications received are scheduled to be issued on Friday 19 November 2021 with normal trading of those securities expected to commence on Monday 22 November 2021.
As disclosed in the Prospectus, the Directors of the Company have reserved the right to place any of the remaining shortfall shares at the same price of A$0.019 per share within 3 months of the closing date of the Rights Offer.
The Company wishes to thank all participating shareholders for their continuing support.
This ASX announcement has been approved and authorised for release by Woomera Mining’s Board of Directors.
For further information please contact:
Kevin Seymour Managing Director Woomera Mining Limited + 61 400 027 730
Duncan Gordon Executive Director Adelaide Equity Partners Limited + 61 404 006 444
About Woomera Mining Limited
Woomera Mining Limited is a focussed precious metal and base metal explorer. The Company is exploring for precious metals and massive nickel-copper sulphides in Western Australia (Mt Venn JV Project) and nickelcopper sulphides (Musgrave Project) along with copper-gold mineralisation (Labyrinth Project - Gawler Craton) in South Australia.
Woomera’s portfolio also includes lithium exploration tenements in Western Australia, which the Company is seeking to divest.
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