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REDSTONE RESOURCES LIMITED — Capital/Financing Update 2012
Oct 21, 2012
65676_rns_2012-10-21_08dd538e-6445-44ad-8d7a-d54f4cbcefa8.pdf
Capital/Financing Update
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22 October 2012
Company Announcements Office Australian Stock Exchange Limited Level 4, 20 Bridge Street Sydney NSW 2000
PRO-RATA NON-RENOUNCEABLE ENTITLEMENT ISSUE OF OPTIONS
Redstone Resources Limited (ASX Code: RDS) (“Redstone” or “the Company”) is pleased to announce that it intends to undertake a fully underwritten pro-rata non-renounceable entitlement issue of Options (Options) to acquire fully paid ordinary shares (Shares) in the Company (Entitlement Issue) at an issue price of $0.01 per Option. The Entitlement Issue will provide the Company with additional funds for ongoing exploration of the Company’s existing projects.
The Entitlement Issue will be underwritten by Argonaut Capital Limited.
ENTITLEMENT ISSUE
Redstone will offer a 1 for 10 non–renounceable entitlement issue to eligible Shareholders (those with registered addresses in Australia or New Zealand) of Options at an issue price of $0.01 per Option, to raise $143,569 (before costs).
The key terms of the Options offered pursuant to the Entitlement Issue are as follows:
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the exercise price of each Option shall be $0.20;
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the Company will apply to have the Options quoted on the ASX;
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the expiry date of each Option shall be 28 February 2016 (Expiry Date); and
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the Options may be exercised at any time prior to the Expiry Date.
The Entitlement Issue will be made pursuant to a prospectus to be lodged with ASIC.
The Company currently has no ASX listed options on issue. Following the issue of the Options under the Entitlement Issue, a total of 14,356,939 Options will be issued by the Company, assuming full subscription of the Entitlement Issue.
Redstone Resources Limited ABN 42 090 169 154 Suite 3, 110-116 East Parade, East Perth WA 6004 Tel: 08 9328 2552 Fax: 08 9328 2660
www.redstone.com.au Email: [email protected]
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ASX: RDS
For further information please contact:
Anthony Ailakis Executive Director Redstone Resources Limited +61 (08) 9328 2552 [email protected]
Miranda Conti Company Secretary Redstone Resources Limited +61 (08) 9328 2552 [email protected]
Redstone Resources Limited ABN 42 090 169 154 Suite 3, 110-116 East Parade, East Perth WA 6004 Tel: 08 9328 2552 Fax: 08 9328 2660
www.redstone.com.au Email: [email protected]
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