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TESORO GOLD LTD — Capital/Financing Update 2021
Oct 27, 2021
65957_rns_2021-10-27_b4ba0f3f-335b-48a9-9505-653951a4324e.pdf
Capital/Financing Update
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A S X A N N O U N C E M E N T 2 8 O C T O B E R 2 0 2 1
ASX: TSO | ACN 106 854 175
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Share Purchase Plan - Early registration
Tesoro Resources Limited (Tesoro or the Company) (ASX: TSO) wishes to reward its loyal Shareholders by conducting a shareholder purchase plan ( SPP ) to raise up to $3,000,000 on the same terms as the placement announced on 27 October 2021. Eligible Shareholders will be entitled to subscribe for up to $30,000 worth of new shares at $0.085 per share, without paying any brokerage costs.
Funds raised under the SPP will be used for the same purpose as under the placement. The new shares issued under the SPP will rank equally with existing shares on issue.
We encourage all Shareholders to register their details using the QR Code below so that we can send a copy of their personalised SPP documents by email when available.
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| Key Event | Date |
|---|---|
| Record Date for Eligibility to participate in SPP | 5.00pm WST on 26 October 2021 |
| Announcement of firm commitments for the Capital Raising |
27 October 2021 |
| Settlement of Placement Shares | 29 October 2021 |
| Allotment of Placement Shares | 1 November 2021 |
| Lodgement of SPP Prospectus with ASIC and Dispatch of SPP Offer letter |
8 November 2021 |
| SPP Opening date | 9.00am WST on 8 November 2021 |
| SPP Closing date | 5.00pm WST on 6 December 2021 |
| Announcement of SPP Participation Results | 9 December 2021 |
| Last date for Issue of SPP Shares | 13 December 2021 |
1 +61 8 9322 1587 | [email protected] | Suite 5, 62 Ord Street, West Perth WA 6005 | www.tesororesources.com.au
ASX Announcement 28 October 2021
The timetable is indicative only and remains subject to change at the Company discretion, subject to compliance with applicable laws and the ASX Listing Rules. The Company reserves the right to change the timetable or cancel the SPP at any time before new Shares are issued, subject to regulatory requirements. The Company encourages Eligible Shareholders who wish to participate to act promptly in submitting their application forms. The Company reserves the right to close the SPP early, in its sole and absolute discretion, should it be considered necessary to do so, by making an announcement to the ASX.
SPP
The SPP aims to raise $3 million (before costs) and will enable all Tesoro shareholders (including retail shareholders) with registered addresses in Australia and New Zealand at 5.00pm (WST) on the Record Date of 26 October 2021 ( Eligible Shareholders ) the opportunity to apply for new Shares at an offer price of $0.085 per Share (the same price as the Placement price). Eligible Shareholders will be offered the opportunity under the SPP to apply for up to $30,000 worth of new Shares (subject to scale back at the Company’s absolute discretion).
The SPP shares will be offered under a prospectus (the SPP Prospectus ), so that Eligible Shareholders will be able to apply for the full $30,000 worth of new Shares (subject to scale back at the Company’s absolute discretion), even if they received Shares under the Company’s Share Purchase Plan in December 2020/January 2021.
The Company intends to issue the SPP Shares pursuant to the Company’s additional placement capacity under ASX Listing Rule 7.1A.
New Shares issued under the SPP will rank equally with Tesoro’s existing Shares with effect from their issue. The offer price is free of brokerage and commission. The Board intends to cap the SPP at $3 million, however the Board reserves the right to accept oversubscriptions (utilising available placement capacity under ASX Listing Rules 7.1 and 7.1A) or to scale back applications, to change the SPP closing date, including closing early, or cancel the SPP, in its absolute discretion.
The SPP Prospectus will also include a Shortfall Offer on the same terms as the SPP Offer which provides the Company with the ability to issue any shares not taken up under the SPP Offer up to the maximum available under the SPP Offer of $3 million.
Participation in the SPP by Eligible Shareholders is entirely optional. The SPP is not underwritten.
The terms and conditions of the SPP will be set out in an SPP Prospectus that will be released on ASX and provided to Eligible Shareholders in accordance with the timetable.
Authorised by the Board of Tesoro Resources Limited.
For more information, please contact:
Zeff Reeves Peter Taylor Managing Director Investor Relations [email protected] [email protected] 0412 036 231
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+61 8 9322 1587 | [email protected] | Suite 5, 62 Ord Street, West Perth WA 6005 | www.tesororesources.com.au
ASX Announcement 28 October 2021
About Tesoro Resources
Tesoro Resources Limited was established with a strategy of acquiring, exploring, and developing mining projects in the Coastal Cordillera region of Chile. The Coastal Cordillera region is host to multiple world class copper and gold mines, has well established infrastructure, service providers and an experienced mining workforce. Large areas of the Coastal Cordillera remain unexplored due to the unconsolidated nature of mining concession ownership, but Tesoro, via its in-country network and experience has been able secure rights to a district scale gold project in-line with the Company’s strategy. Tesoro’s 95% owned Chilean Subsidiary owns 85% of the El Zorro Gold Project.
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+61 8 9322 1587 | [email protected] | Suite 5, 62 Ord Street, West Perth WA 6005 | www.tesororesources.com.au