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SUREFIRE RESOURCES NL — Capital/Financing Update 2020
Sep 17, 2020
65857_rns_2020-09-17_df94dd8d-4f88-44c6-af19-24f0e2cb85a1.pdf
Capital/Financing Update
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18 September 2020
ASX Announcement ASX Codes: SRN and SRNOC
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Surefire Capital Raising
Surefire Resources NL ( Company ) is pleased to announce that it has received firm commitments from professional and sophisticated investors to raise $1.28 million ( Placement ), before costs.
The Placement will result in the issue of 80,000,000 fully paid ordinary shares ( Shares ) at $0.016 each, together with 40,000,000 free attaching options ( Options ) on a one for two entitlement basis (issued on the same terms and conditions as those currently quoted on ASX, that is, exercisable at $0.006 each and exercisable on or before 30 June 2022). The Placement will be made within the Company’s existing pre-approved Listing Rule 7.1A placement capacity as to 62,815,364 Shares and within its Listing Rule 7.1 placement capacity as to 17,184,636 Shares and 40,000,000 Options.
The issue price of the Shares represents a 10% premium to the 10-day VWAP.
Both the Shares and the Options, when quoted, will rank pari-passu with existing SRN Shares and SRNOC Options quoted on the ASX.
It is expected that the receipt of funds will be completed by 23 September 2020 and Shares issued immediately thereafter.
CPS Capital Group Pty Ltd (AFSL 294848) ( CPS ) have been appointed to act as Lead Manager and Broker to the Placement. CPS will be paid a management fee of 2% (plus GST) for managing the placement, and a placement fee of 4% (plus GST) for funds raised via the Placement.
The response to the Placement has been outstanding and the Company thanks CPS Capital for their support.
The additional funds will allow the Company to expand exploration and drilling activities on the recently acquired gold projects in Western Australia.
Surefire’s Managing Director, Vladimir Nikolaenko, commented on the placement “ these are exciting times ahead for the Company now that we have the additional funds to start an aggressive drilling and exploration program ”.
Vladimir Nikolaenko
Managing Director
Authorised for release without signature by the abovenamed
__________________________________________________________________________________ AUSTRALIA 45 Ventnor Avenue, West Perth WA 6005 | T +61 8 9429 8846 | F +61 8 9429 8800 ABN 48 083 274 024 | ASX SRN | E [email protected] www.surefireresources.com.au