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TUNGSTEN MINING NL — Capital/Financing Update 2017
Dec 21, 2017
65918_rns_2017-12-21_63a983ab-e347-4d2a-8a60-bcb58601e4b1.pdf
Capital/Financing Update
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ASX Announcement
Successful Completion of $13.87m Capital Raising
The Directors of Tungsten Mining NL (ASX: TGN) (“TGN” or “the Company”) are pleased to advise the placement and allotment of Shortfall Shares arising from the recently completed Non Renounceable Entitlement Issue.
Pursuant to the Entitlement Issue TGN offered eligible shareholders the opportunity to acquire additional fully paid ordinary shares in the Company through a 1-for-3 non-renounceable Entitlement Issue at 10 cents per share, to raise up to $13.87 million (“Offer”).
138,731,788 ordinary fully paid shares in total were offered. On 8 November 2017 the Company announced that it had allotted 64,937,620 shares pursuant to acceptances and applications for shortfall shares prior to the closing date of the Offer.
The Company has today instructed its registry to allot and issue 73,794,168 ordinary fully paid shares, following receipt of valid applications for Shortfall Shares, for which cleared funds of $7,379,419 have been received.
This successfully concludes the Entitlement Issue with the Offer fully subscribed and raising $13.87m.
Funds raised by the Offer will be used to advance the Company’s Mt Mulgine Tungsten Project and for general working capital purposes.
-ENDS-
22 December 2017
For further information: Craig Ferrier Chief Executive Officer Ph: +61 8 9486 8492 E: [email protected]
Mark Pitts Company Secretary Ph: +61 8 9316 9100 E: [email protected]
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Tungsten Mining NL 97 Outram Street PO Box 517 T +61 8 9486 8492 E [email protected] ABN 67 152 084 403 West Perth WA 6005 West Perth WA 6872 F +61 8 9322 2370 W www.tungstenmining.com