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PATRONUS RESOURCES LIMITED — Capital/Financing Update 2016
Jul 31, 2016
65620_rns_2016-07-31_5213b316-65a1-4a1a-a33b-cba8cf5a5559.pdf
Capital/Financing Update
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----- Start of picture text ----- ASX Code: KIN 1 [st] August 2016----- End of picture text -----
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Board of Directors
Terry Grammer Chairman
Trevor Dixon Managing Director
Fritz Fitton Technical Director
Joe Graziano
Non-Executive Director & Company Secretary
Kin Mining NL ( Kin or the Company ) advises that it proposes to undertake a pro rata non-renounceable entitlement issue of approximately 22,620,723 ordinary fully paid shares (New Shares) on the basis of one (1) New Share for every four (4) Shares held by Eligible Shareholders on the Record Date at an issue price of $0.22 per New Share, to raise up to approximately $4,976,559 (Rights Issue or Offe r).
New Shares issued under the Rights Issue will rank equally with existing Shares on issue and the Company will apply for official quotation of the New Shares.
Optionholders are not entitled to participate in the Rights Issue without first exercising their options to be registered as a shareholder (in Australia, New Zealand and Singapore) on the Record Date, in accordance with the terms and conditions of the options.
The proposed terms of the offer will be as follows:
Contact Details
Post
PO Box 565 Mount Hawthorn Western Australia 6915
Office
342 Scarborough Beach Road Osborne Park Western Australia 6017
Phone
08 9242 2227
Fax
08 9242 1277
Email [email protected]
Website
Shares on Issue: 90,482,891
| Type of Offer: | Pro-rata non-renounceable |
|---|---|
| Eligible participants: | Shareholders on the Record Date and whoseregistered addresses are inAustralia, NewZealand and Singapore |
| Basis of entitlement: | One (1) New Share for every four (4) existingShares |
| Number of existing Shares: | 90,482,891 |
| Number of new Shares (full subscription): | 22,620,723 |
| Record Date to determine entitlements: | To be advised |
| Issue price: | $0.22 per new share |
Funds raised from the issue of $ 4,976,559 (before costs)
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further development of the Leonora Gold Project including additional drilling and commencement of the Definitive Feasibility Study;
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payment of the final balance to the Secured Creditor, Waterton Global Value LLP for the acquisition of the Leonora Gold Project; and
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• general working capital requirements.
An offer document for the issue will be lodged with ASX shortly, along with an indicative timetable for the capital raising.
Yours Faithfully
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Joe Graziano Company Secretary
Unlisted Options: 13,955,000
KIN Mining NL ACN 150 597 541
ASX: KIN
342 Scarborough Beach Road, Osborne Park WA 6017 www.kinmining.com.au