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SILVER MINES LIMITED — Capital/Financing Update 2017
Apr 6, 2017
65881_rns_2017-04-06_d462446d-bca1-4ad6-95b3-d697f656007b.pdf
Capital/Financing Update
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Level 11, 52 Phillip St Sydney NSW 2000 P: +61 2 8316 3997 F: +61 2 8316 3999 [email protected] www.silvermines.com.au
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7[th] April 2017
Company Announcement Officer ASX Limited Exchange Centre 20 Bridge Street SYDNEY NSW 2000
COMPLETION OF SHARE PURCHASE PLAN
Silver Mines Limited (“the Company”) is pleased to announce that its Share Purchase Plan (“SPP”) and subsequent shortfall offer, as announced on 8[th] March 2017, have closed, raising a total of A$3 million, representing 18,181,968 new shares.
Under the SPP, which closed on 29[th] March 2017, the Company received applications for 8,969,840 shares, raising a total of A$1,480,000.
Under the shortfall offer, the underwriter, Enrizen Capital Pty Ltd has fully underwritten the remainder of the SPP, receiving applications for approximately 9,212,128 shares, with total value of $1,520,000, (“Shortfall”).
The Company has instructed the Share Registry to arrange settlement and allotment of the SPP and the Shortfall.
The proceeds of the SPP (after costs of the offer) will be allocated to the continued Feasibility Study, Environmental Impact Statement and exploration works at the Bowdens Silver project in central New South Wales, in addition to general working capital.
The minimum shareholding buy-back, as announced on 8[th] March 2017, will remain open until 20[th] April 2017.
The Board of the Company would like to thank all shareholders who participated in the SPP for their ongoing support of the Company.
Yours faithfully Silver Mines Limited
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Trent Franklin Company Secretary
Silver Mines Limited
ABN: 45 107 452 942
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About Silver Mines Limited
The Silver Mines strategy has been to consolidate quality silver deposits in New South Wales and to form Australia’s pre-eminent silver company.
The Company’s goal is to provide exceptional returns to shareholders through the acquisition, exploration and development of quality silver projects and by maximising leverage to an accretive silver price.
Silver Mines Limited ABN: 45 107 452 942
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