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SUPERIOR RESOURCES LIMITED — Capital/Financing Update 2019
Jul 30, 2019
65848_rns_2019-07-30_6dbcab39-827f-469f-8af9-b4df300a9fc9.pdf
Capital/Financing Update
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Superior Resources Limited
ASX Announcement
31 July 2019
Superior completes private placement to sophisticated investors
Superior Resources Limited (ASX Code: SPQ) ( Superior or Company ) is pleased to announce that it has received firm commitments for a total of $486,000.00 in respect of a capital raising via a placement of 60,750,000 fully paid ordinary shares at an issue price of $0.008 per Share ( Placement ).
The Placement was made to investors qualifying under section 708(8) of the Corporations Act 2001 (Cth), utilising the Company’s existing capacity under Listing Rule 7.1.
Use of funds
Superior will use the proceeds from the Placement to:
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conduct preliminary sampling programs at the Victor Project;
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conduct access preparations and a magnetometer survey at the newly granted Big Mag tenement at the Greenvale Project; and
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provide general and corporate working capital.
Trading halt
This announcement effectively lifts the trading halt that was requested by the Company on 29 July 2019.
The Company is not aware of any reason why the ASX should not allow trading to re-commence immediately.
For more information:
Peter Hwang Managing Director Tel: +61 7 3847 2887 www.superiorresources.com.au [email protected]
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