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SUNSTONE METALS LTD — Capital/Financing Update 2011
Dec 22, 2011
65870_rns_2011-12-22_e1d98721-1605-457b-acf9-62283249e2ac.pdf
Capital/Financing Update
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----- Start of picture text ----- ASX Announcement23 December 2011----- End of picture text -----
Mawson West Terminates Subscription Agreement
Avalon Minerals Limited ( Avalon or the Company ) (ASX:AVI) wishes to announce that Mawson West Limited ( Mawson West ) have withdrawn from the recently announced Subscription Agreement (see ASX announcement 12 December 2011)
In accordance with the agreement Mawson West were to have completed technical, legal and financial due diligence on Avalon to its satisfaction by 31 December 2011.
Mawson West today advised that the Due Diligence was completed not to Mawson West’s satisfaction and as a result they have terminated the Subscription Agreement on 23 December 2011.
Commenting on the withdrawal Avalon’s Managing Director Andrew Munckton said “It is disappointing that Mawson West have terminated the agreement as the company believed it offered both Avalon shareholders and Mawson West shareholders good value in what is a difficult market environment”.
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Further Information
For further information on this release and Avalon Minerals generally, please contact:
Andrew Munckton Managing Director Ph: +61 435 635 598 Email: [email protected]
David McSweeney Chairman Ph: +61 439 399 318 Email: [email protected]
Avalon Minerals Ltd ACN 123 184 412 PO Box 165 West Perth WA 6872 www.avalonminerals.com.au
Avalon Minerals Ltd ACN 123 184 412 PO Box 165, West Perth WA 6872 Email: [email protected] Mobile: Telephone: +61 8 9322 2752 0435 635 598
ASX Code: AVI