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RIVERSGOLD LIMITED — Capital/Financing Update 2017
Oct 5, 2017
65694_rns_2017-10-05_39986a7c-d79f-448f-bd7a-c6f58ae4fab8.pdf
Capital/Financing Update
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27 September 2017
UPDATED STATEMENT OF COMMITMENTS
An amount of $6,125,485 was raised pursuant to the Initial Public Offer, refer replacement prospectus dated 11 August 2017.
The Company intends to apply funds raised from the Initial Public Offer, together with existing cash reserves, in the next two years following admission to the Official List of the ASX, as follows:
| Item | A$6,125,485 | % |
|---|---|---|
| Raised | ||
| (A$) | ||
| Cash reserves as at the date of the Prospectus | 392,000 | 7.27% |
| Funds raised from the Offer | 6,125,485 | 92.73% |
| Total Funds Available | 6,517,485 | 100% |
| Repayment of Loan and Expenditure incurred | 539,000 | 8.27% |
| Exploration Activity for Kurnalpi Project | 2,485,000 | 38.13% |
| Exploration Activity for the Alaskan Project | 1,484,000 | 22.77% |
| Exploration Activity for the Churchill Dam Project | 260,000 | 3.99% |
| Cambodian Project Administrative Expense | 200,000 | 3.07% |
| General and Administrative Expenses | 950,000 | 14.58% |
| Costs of the Offer | 450,000 | 6.90% |
| Cash Reserves and Working Capital | 149,485 | 2.29% |
| Total funds allocated | 6,517,485 | 100% |
The above proposed use of funds is a statement of present intentions as at the date of this announcement, and is subject to ongoing review and evaluation by the Company. As with any budget, intervening events and results of exploration programs have the potential to affect the manner in which the funds are ultimately applied.
The Board reserves the right to alter the way funds are applied on this basis.