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POWER MINERALS LIMITED — Capital/Financing Update 2021
Jan 7, 2021
65586_rns_2021-01-07_be7a735d-35b9-40ee-b949-2757e5bc7cbe.pdf
Capital/Financing Update
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ASX RELEASE
ASX :PNN
8 January 2021
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ABOUT
PepinNini Minerals Limited is a diversified ASX listed Australian Exploration Company focused on exploring, discovering and developing a significant mineral resource. PepinNini has exploration tenements prospective for nickel-coppercobalt-PGE in the Musgrave Province of South Australia and hold a lithium brine resource in Salta Province, Argentina. The company also holds a copper-gold exploration project in Salta Province, Argentina
DIRECTORS
Rebecca Holland-Kennedy Managing Director
Luis Kennedy Non-Executive Director
Controlled Placement Agreement
PepinNini Minerals Limited (PepinNini, the Company) is pleased to announce that it has utilised its Controlled Placement Agreement (“CPA”) with Acuity Capital (announced ASX 1 February 2018 and 23 December 2020) to raise $306,000 (inclusive of costs) by agreeing to issue 1,000,000 PNN shares to Acuity Capital at an issue price of $0.3060.
The issue price of $0.3060 represents a premium of 6% to the 15 trading day VWAP of $0.2882 to 8 January 2021 (inclusive).
The issue of the placement shares will be subject to shareholder approval; however Acuity Capital is paying the funds to the Company immediately.
Funds raised are intended to be used to progress the Company’s Musgrave Project in South Australia, the Santa Ines Copper Gold Project in Argentina, exploration work on the Proposed Acquisition Tenements (see Proposed Acquisition and Placement announced on 22 December 2020) should PepinNini elect to proceed with the Proposed Acquisition and for general working capital.
This announcement was authorised for issue by the Directors of PepinNini Minerals Ltd
For further information please contact: Rebecca Holland-Kennedy Managing Director, PepinNini Minerals Limited Phone: (08) 8218 5000
Note: Additional information on PNN is available at www.pepinnini.com.au
Robert (Wei) Sun Non-Executive Director
Pamela Sayers Company Secretary
CONTACT
PepinNini Minerals Limited ABN 55 101 714 989
Level 1, 6/68 North Terrace Kent Town SA 5067 TEL:+61 (0)8 8218 5000 FAX:+61 (0)8 8212 5717 EMAIL: [email protected]
FURTHER INFORMATION Ms Rebecca Holland-Kennedy Managing Director TEL: +61 (0)8 8218 5000 www.pepinnini.com.au