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ST GEORGE MINING LIMITED — Capital/Financing Update 2015
Jun 15, 2015
65782_rns_2015-06-15_a6ec941c-f420-44d8-b59a-e7a6d8236c80.pdf
Capital/Financing Update
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ASX / MEDIA RELEASE
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16 June 2015
ST GEORGE SECURES INTERNATIONAL INSTITUTIONAL PLACEMENT
St George Mining Limited (ASX: SGQ ) (‘St George Mining’ or ‘the Company’) is pleased to announce that it has arranged a placement to a London based institution to raise a total of $500,000 through the issue of 5,555,556 ordinary shares at $0.09 per share.
Shares issued in the placement will receive one free option for every three new shares acquired. These options are on the same terms as the options trading under ASX code SGQOA.
The placement will be made to City Natural Resources High Yield Trust PLC, a UK investment trust which invests in resources companies. The trust is managed by New City Investment Managers which is part of CQS ‐ a global multi‐strategy asset management firm with over US$18 billion under management.
New City Investment Managers has a track record of successful investment in Australian resources companies, including an early stage investment in Sirius Resources NL.
The funds raised will be applied towards the continued exploration at the Company’s 100% owned East Laverton Nickel Sulphide Project in Western Australia.
John Prineas, Executive Chairman of St George Mining , said:
“We are very pleased to welcome New City, a global investor with a record of successful investment in the Australian nickel space, as a strategic shareholder in St George. This is an important milestone for our Company.
“The tremendous potential of our Project is increasingly being recognised by a wider range of investors.
“Our compelling pipeline of prospects together with growing investor support gives us a strong platform from which to deliver exploration success.”
A General Meeting of Shareholders will be held soon to ratify and approve the capital raising completed on 9 June 2015 as well as the placement to New City. A Notice of Meeting will be issued shortly.
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