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ST GEORGE MINING LIMITED — Capital/Financing Update 2014
Sep 23, 2014
65782_rns_2014-09-23_463d6039-75f9-4584-bb95-3186c55df403.pdf
Capital/Financing Update
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ASX / MEDIA RELEASE
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24 September 2014
ST GEORGE RAISES $1,750,000 TO SUPPORT HIGH IMPACT DRILLING CAMPAIGN
HIGHLIGHTS:
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Successful capital raising completed to sophisticated investors
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Funding secured for ongoing high impact exploration of nickel sulphide and VMS targets
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Drilling programme planned to commence on 8 October 2014
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Strong support from existing and new shareholders
St George Mining Limited (ASX: SGQ ) (‘St George Mining’ or ‘the Company’) is pleased to confirm that it has completed a placement to sophisticated investors to raise a total of $1,750,000 in capital.
The funds raised will be applied towards the continued exploration at the Company’s advanced nickel sulphide prospects, as well as new VMS targets, at its 100% owned East Laverton Property in Western Australia.
John Prineas, Executive Chairman of St George Mining , said:
“We were very pleased with the strong level of sophisticated investor support and appreciate the confidence expressed by new and existing shareholders in our project and exploration programme.
”We also thank our key service providers in the next drilling campaign – Newexco and VM Drilling – who each participated in the placement.”
A total of 19,444,444 shares at $0.09 per share were placed pursuant to Section 708 of the Corporations Act 2001 (“the Act”).
All of the shares issued under the placement will rank pari passu with existing ordinary shares. Shareholder approval is not required for the placement as the number of shares issued does not exceed the threshold provided in ASX Listing Rule 7.1 and ASX Listing Rule 7.1A.
Following allotment of the shares under the placement, St George Mining will have 111,770,695 ordinary shares on issue.
For further information, please contact:
John Prineas Colin Hay Executive Chairman Professional Public Relations St George Mining Limited (+61) 08 9388 0944 mob 0404 683 355 (+61) 411 421 253 [email protected] [email protected]
St George Mining Limited ACN 139 308 973 Level 1, 115 Cambridge Street, PO Box 1305, West Leederville WA 6007 Phone + 61 8 9322 6600 Facsimile + 61 8 9322 6610