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ORBMINCO LIMITED — Capital/Financing Update 2021
May 25, 2021
65473_rns_2021-05-25_7a69ada2-9e2b-4e80-b761-70dfd372a9f9.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
26 May 2021
ASX Announcement
SPP CLOSES OVERSUBSCRIBED
Woomera Mining Limited (ACN 073 155 781) (ASX:WML) ( Woomera or the Company ) is pleased to announce that the Share Purchase Plan offered to Eligible Shareholders and announced on 12 April 2021 ( SPP ) closed on 24 May 2021 over-subscribed.
Under the SPP, Eligible Shareholders were invited to subscribe for up to $30,000 or 1,764,706 fully paid ordinary shares ( New Shares ) at an offer price of $0.017 to raise approximately $212,500 (before costs), together with one (1) free attaching Option for every two (2) New Shares subscribed.
The table below sets out the number of new securities to be issued pursuant to the SPP*.
| Summary | New Shares | Attaching Options | Gross Proceeds |
|---|---|---|---|
| Total number of Securities applied for by Eligible Shareholders |
131,323,580 | 65,661,790 | $2.23 m |
| Maximum number of Securities to be issued under the SPP |
12,500,000 | 6,250,000 | $212,500 |
*subject to rounding and receipt of cleared funds.
As a result of the over-subscription, the directors of the Company will scale back the allocation of New Shares to Eligible Shareholders who participated in the SPP, at their sole discretion in accordance with the Company’s Prospectus dated 20 April 2021 ( Prospectus ) and subject to the ASX Listing Rules and the Corporations Act 2001 (Cth).
The Company will notify Eligible Shareholders in respect of the scale back of their allocation under the SPP, and refund the difference between the New Shares issued to that applicant and the parcel for which they applied, with the final allotment of all New Shares expected to take place on 31 May 2021 in accordance with the timetable in the Prospectus.
The Company wishes to thank all participating shareholders for their continuing support.
This ASX announcement has been approved for release by Woomera’s Board of Directors.
For more information please contact:
Kevin Seymour
Duncan Gordon
Managing Director Executive Director Woomera Mining Limited Adelaide Equity Partners Ltd +61 400 027 730 +61 8 8232 8800 [email protected] [email protected]
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 are the subject of a strategic review announced in February, 2021.
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