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SUPERIOR RESOURCES LIMITED — Capital/Financing Update 2018
Mar 11, 2018
65848_rns_2018-03-11_fa79b157-4867-4b80-91bb-4bfef19f09c6.pdf
Capital/Financing Update
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Superior Resources Limited
ASX Release 12 March 2018
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ACN 112 844 407
RIGHTS ISSUE CLOSES SIGNIFICANTLY OVERSUBSCRIBED
Superior Resources Limited (ASX Code: SPQ ) ( Superior or Company ) is pleased to advise that its 1 for 4 non-renounceable rights issue, with free attaching options[1] to raise up to $1.238 million, closed on 9 March 2018, significantly oversubscribed.
The total applications for entitlements and shortfall shares received from eligible shareholders has significantly exceeded $1.238 million.
All entitlement applications will be allocated in full and the Directors are currently considering the allocation of shortfall applications.
The Company will confirm the final results of the rights issue in a market announcement in due course.
Indicative Timetable[2 ]
| Entitlement Offer Closes (5pm AEDT) | Friday, 9 March 2018 |
|---|---|
| ASX notified of under-subscriptions | Wednesday, 14 March 2018 |
| Issue date under Rights Issue | Friday, 16 March 2018 |
For more information:
| For more information: | |
|---|---|
| Peter Hwang | Carlos Fernicola |
| Managing Director | Chairman |
| Tel: +61 7 3847 2887 | +61 7 3229 1799 |
| www.superiorresources.com.au | |
| [email protected] |
Certain statements made in this report may contain or comprise certain forward-looking statements. Although Superior Resources Limited believes that any estimates and expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. Accordingly, results and estimations could differ materially from those set out in the forward-looking statements as a result of, among other factors, changes in the economic and market conditions, success of business and operating initiatives and changes in the regulatory environment. Superior undertakes no obligation to update publicly or release any revisions of any forwardlooking statements to reflect events or circumstances after the date of this report or to reflect the occurrence of Figure 2. Steam Engine – Interpreted geology showing the gold bearing lodes and drill holes unanticipated events.
1 Shareholders who subscribed under the Rights Issue will also receive one free attaching option for every two entitlement shares issued, with each option having an exercise price of 1.6 cents and expiring on 31 August 2019.
2 All dates are indicative only and may change, subject to the Listing Rules and Corporations Act.
Unit 8, 61 Holdsworth Street, Coorparoo Queensland 4151 │ PO Box 189, Coorparoo, Queensland, 4151 T 07 3847 2887 │ E [email protected] │ www.superiorresources.com.au │ ABN 72 112 844 407