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REDSTONE RESOURCES LIMITED — Capital/Financing Update 2009
Sep 21, 2009
65676_rns_2009-09-21_f255c2cd-d8df-4a5c-94a7-50866301abf0.pdf
Capital/Financing Update
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REDSTONE RESOURCES
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22 September 2009
Company Announcements Office
Australian Stock Exchange Limited
20 Bridge Street
SYDNEY NSW 2000
REDSTONE UNDERTAKES $1.1 MILLION PLACEMENT
Redstone Resources Limited (ASX: RDS) is pleased to announce that it is undertaking a capital raising of approximately $1.1 million by a placement of securities with sophisticated and private investors.
These investors will subscribe for ordinary fully paid shares in Redstone at $0.09 per share together with one free option for every two shares applied for. These options will be exercisable at $0.25 cents per share on or before 30 November 2012.
Of the placement securities, 3,575,000 shares for a total $321,750 will be issued and allotted initially following finalisation of the placement, whilst the balance of the shares and all free attaching options will be issued and allotted if shareholder approval is obtained at a general meeting of the Company to be convened as soon as reasonably practicable.
The placement will enable Redstone to progress exploration and commence a drilling program on certain of the Company’s West Musgrave projects and provide further working capital.
Final details of the placement will be announced once all investor applications and funds have been received.
Yours sincerely
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Anthony Ailakis Director
ABN 42 090 169 154 Suite 3, 110-116 East Parade, East Perth WA 6004 Correspondence to: PO Box 8646, Perth Business Centre, WA, 6849 Tel: 08 9328 2552 Fax: 08 9328 2660 Email: [email protected]