AI assistant
STREAMPLAY STUDIO LIMITED — Capital/Financing Update 2015
Nov 16, 2015
65841_rns_2015-11-16_a2b07240-9041-4c5c-a785-bf62263ae7ca.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
==> picture [153 x 109] intentionally omitted <==
ABN 31 004 766 376
Corporate Update & Change of Registered Office
Release Date: Tuesday 18 November 2015
1 CORPORATE UPDATE
The Board of Arrowhead Resources (ASX:AR1) (Arrowhead or the Company) wishes to update shareholders on a series of initiatives being finalised to re-establish the Company with a clean balance sheet, a workable capital structure, new name, revised Board structure and new funding.
The final phase, “new funding” is in progress with a Prospectus for a renounceable rights issue lodged on 28 October, 2015 to raise a total of $1.4 million before costs. The issue is fully underwritten by CPS Capital Group and is planned to close at 5pm (AWST), 19 November, 2015.
On completion of the fundraising, Arrowhead will have established a platform from which to embark on a new mining focussed business strategy and to concurrently pursue its legal rights in Egypt. Mr Mike Rosenstreich, the Company’s Chairman commented that “we have received approaches for a variety of projects which we are evaluating. We realise it is frustrating for existing shareholders that we cannot disclose more detail on these opportunities especially given the Rights Offer is open, but for those proposals not declined, the remaining assessments are at a very early stage with a high degree of uncertainty on whether we would undertake a transaction on any one of them. However, it is very positive that there are some really interesting and worthwhile opportunities out there and the Company is taking a methodical assessment approach, conscious of being able to add value by investment from its initial tranche of available capital.
2. NEW REGISTERED OFFICE AND PRINCIPAL PLACE OF BUSINESS
The Company has relocated its registered office and principal place of business to:
Suite 2, 28 Southside Drive Hillarys, Western Australia 6025
PO Box 2277 Marmion, Western Australia 6020
The website address and email accounts will be updated in December, 2015.
Michael Rosenstreich Chairman
Suite 2, 28 Southside Drive PO Box 2277 Hillarys WA 6025 Marmion WA 6020 Australia Australia t: +61 8 6102 2609
e: [email protected] w: www.gippslandltd.com