AI assistant
QX RESOURCES LIMITED — Capital/Financing Update 2017
Aug 24, 2017
65654_rns_2017-08-24_562238cf-54da-4e15-8dad-20e13ea9b8e4.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
==> picture [222 x 139] intentionally omitted <==
ASX ANNOUNCEMENT
25 August 2017
Black Mountain Funding Update
Black Mountain Resources Limited ( ASX: BMZ ) (“ Black Mountain ” or “ the Company ”) is pleased to advise that it has received a further $250,000 from cornerstone investor Investmet Limited (“Investmet”). This takes the total amount received from Investmet and related parties to $400,000, and the Company expects to receive the remaining $600,000 shortly.
As announced on 21 June 2017, Black Mountain has entered into an agreement with Investmet to raise $1,000,000 through the placement of 25,000,000 fully paid ordinary shares at $0.04 per share. Funds received from the placement will be deployed towards improving operating performance at the Company’s flagship Namekara Vermiculite Mine in Uganda.
An Appendix 3B will be issued this week and the Company will also provide shareholders with an update on vermiculite sales and corporate activities in the near-term.
Further information, please contact:
Bronwyn Barnes Interim CEO Ph: 0417093256
Released through: Ben Jarvis, Six Degrees Investor Relations: +61 (0) 413 150 448
Black Mountain Resources Limited ABN 55 147 106 974 www.blackmountainresources.com.au [email protected]
Level 2, 34 Colin Street West Perth WA 6005 Tel: +61 8 9321 7277