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REDSTONE RESOURCES LIMITED Capital/Financing Update 2015
65676_rns_2015-12-09_0a450442-6240-4050-85d8-181f4726753c.pdf
Capital/Financing Update
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10 December 2015
The Manager Company Announcements Office Australian Stock Exchange Limited Level 4, Exchange Centre 20 Bridge Street SYDNEY NSW 2000
NON RENOUNCEABLE ENTITLEMENT OFFER UPDATE AND NOTICE OF UNDER SUBSCRIPTIONS
Redstone Resources Limited (ASX Code: RDS) (Redstone or the Company) confirms that the Company's non renounceable Entitlement Offer of three (3) New Shares for every four (4) Shares at an issue price of $0.009 per New Share, closed at 5.00pm WST on 7 December 2015. Under the Company's Entitlement Offer, eligible shareholders also receive two (2) free attaching New Options exercisable at $0.03 on or before 31 July 2017 for every five (5) New Shares issued.
Eligible Shareholders were also invited to apply for New Shares in excess of their entitlement through the Additional New Shares Offer.
The Company is pleased to advise that a total of $648,070 (before costs) has been raised.
The following table sets out the number of New Shares (and free attaching New Options) subscribed for by eligible shareholders under both the Entitlement Offer and Additional New Shares Offer, and the offer shortfall (or amount of under subscriptions).
| No. New | Free attaching | Gross | |
|---|---|---|---|
| Shares | New Options | Proceeds ($) | |
| Total subscriptions available under the Entitlement Offer | 139,077,839 | 55,631,301 | 1,251,701 |
| Total subscriptions accepted under the Entitlement Offer | 41,749,928 | 16,699,981 | 375,749 |
| Total subscriptions accepted under the Additional NewShares Offer | 30,257,846 | 12,103,173 | 272,321 |
| Total subscriptions accepted | 72,007,774 | 28,803,154 | 648,070 |
| Shortfall Securities | 67,070,065 | 26,828,147 | 603,631 |
The shortfall of 67,070,065 New Shares and 26,828,147 free attaching New Options ("Shortfall Securities") will be dealt with in accordance with the Prospectus dated 4 November 2015.
The anticipated date for despatch of holding statements for the New Shares and New Options is 11 December 2015, with normal trading of the New Shares and New Options expected to commence on 14 December 2015.
Funds will be used for drilling and exploration activities currently being undertaken on the Company's 100% owned Tollu Copper Project.
The Company wishes to thank shareholders for their continued support.
For further information please contact:
Richard Homsany
Chairman Redstone Resources Limited +61 (08) 9328 2552 [email protected]
Miranda Conti Company Secretary Redstone Resources Limited +61 (08) 9328 2552 [email protected]