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ST GEORGE MINING LIMITED — Capital/Financing Update 2011
May 17, 2011
65782_rns_2011-05-17_63939d50-5d6a-403c-9bda-c499c1544231.pdf
Capital/Financing Update
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ASX / MEDIA RELEASE
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ST GEORGE MINING LIMITED
18 May 2011
ASX: SGQ
LOYALTY OPTIONS - UPDATE
ACN 139 308 973
Level 1, 115 Cambridge Street PO Box 1305, West Leederville WA 6007
Phone +618 9322 6600 Facsimile +618 9322 6610 Email [email protected]
John Prineas Executive Chairman
Tim Hronsky Technical Director
Marcus Michael
Non-Executive Director and Company Secretary
OVERVIEW OF LOYALTY OPTIONS
Australian gold and nickel focused explorer, St George Mining Limited ( ASX: SGQ ) ( ‘St George Mining’ or the ‘Company’ ) is pleased to update shareholders and investors on the loyalty option program referred to in the Company’s IPO Prospectus dated 16 August 2010.
It is the Company’s intention to launch the option program by July 2011. The terms of the options are outlined below, and will be consistent with the indicative terms referred to in the IPO Prospectus with one revision. The duration of the options will be increased from 2 years to 3 years in order to provide additional value to shareholders.
The loyalty option program will be an entitlement issue to all the shareholders of the Company.
A detailed timetable for the option program, including confirmation of the record date, will be announced by the Company shortly.
East Laverton Property:
Gold, Nickel and Copper Projects Project Dragon (Nickel)
TERMS OF LOYALTY OPTIONS
The option program will be offered to eligible shareholders, being all Pine Creek Property: registered shareholders of St George Mining as at a record date to be Blue Thunder Gold Project confirmed. White Strike Uranium Project
The option program will be an entitlement issue with one (1) new option for every two (2) shares held at the record date (“New Options”). The Company will apply to ASX to have the New Options listed for Official Quotation.
The New Options will be issued at a price of 1 cent per New Option with an exercise price of 20 cents each and an expiry date of three years from the date of Official Quotation of the New Options.
A disclosure document will be made available when the New Options are offered by the Company. Anyone who wishes to acquire New Options under the proposed entitlement issue will need to complete an application form that will accompany the disclosure document.
For further information, please contact:
John Prineas Executive Chairman St George Mining Limited (+61) 411 421 253 [email protected]