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PROSPECT RESOURCES LIMITED — Capital/Financing Update 2020
Apr 27, 2020
65617_rns_2020-04-27_0efbaa16-fd14-484a-bd83-8155581cf648.pdf
Capital/Financing Update
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Extension of Closing Date of the Offer
African lithium developer, Prospect Resources Ltd (ASX: PSC, FRA:5E8) (“ Prospect ” or “ the Company ”) refers to the partially underwritten non-renounceable rights issue offer announced on 3 April 2020 (“ Offer ”).
The Company advises that it is aware that as a result of COVID-19, there may have been delays associated with postage, which has impacted the timely delivery of the Prospectus and personalised Entitlement Acceptance Form to eligible Shareholders of the Company.
Accordingly, the Directors have resolved to extend the Closing Date of the Offer by 1 week.
The updated indicative key dates of the Offer are as follows:
| OpeningDate | 17 April 2020 |
|---|---|
| Last dayto extend the ClosingDate of the Offer | 6 May2020 |
| ClosingDate | 11 May2020 |
| Sharesquoted on a deferred settlement basis | 12 May2020 |
| Announcement of results of the Offer | 14 May2020 |
| Issue date/Securities entered into Shareholders’ security holdings/ | 18 May 2020 |
| Lodgement of Appendix 2A with ASX | |
| Last Date to allot shortfall | 3 months after ClosingDate |
Should shareholders have any enquiries relating to the rights issue please contact our General Manager of Corporate Affairs, Nicholas Rathjen, at [email protected] or 0405 730 041.
This release was authorised by Mr Hugh Warner, Executive Chairman of Prospect Resources Ltd.
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Africa’s leading Well positioned Strong Project Path forward to Offtake Agreement battery mineral Lithium Resource Economics Financing, in place and company in regard to both demonstrated in Development and positioned to Scale and Grade DFS Production capitalise on Market Demand
Prospect Resources Limited | ACN 124 354 329 | W: prospectresources.com.au | Phone: +61 8 9217 3300
Suite 6, 245 Churchill Ave. Subiaco WA 6008 | Email: [email protected]
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For further information, please contact:
Nicholas Rathjen General Manager, Corporate Affairs [email protected]
About Prospect Resources Limited (ASX:PSC, FRA:5E8)
Prospect Resources Limited (ASX:PSC, FRA:5E8) is an ASX listed lithium company based in Perth with operations in Zimbabwe. Prospect’s flagship project is the Arcadia Lithium Project located on the outskirts of Harare in Zimbabwe. The Arcadia Lithium Project represents a globally significant hard rock lithium resource and is being rapidly developed by Prospect’s experienced team, focusing on near term production of petalite and spodumene concentrates.
About Lithium
Lithium is a soft silvery-white metal which is highly reactive and does not occur in nature in its elemental form. In nature it occurs as compounds within hard rock deposits (such as Arcadia) and salt brines. Lithium and its chemical compounds have a wide range of industrial applications resulting in numerous chemical and technical uses. Lithium has the highest electrochemical potential of all metals, a key property in its role in lithium-ion batteries.
Prospect Resources Limited | ACN 124 354 329 | W: prospectresources.com.au | Phone: +61 8 9217 3300 Suite 6, 245 Churchill Ave. Subiaco WA 6008 | Email: [email protected]
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