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WEEBIT NANO LTD — Capital/Financing Update 2013
Oct 6, 2013
66042_rns_2013-10-06_121576f4-53f1-494c-9763-6cc08c936ed7.pdf
Capital/Financing Update
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Lusona Capital appointed as Corporate Advisor
ACN 146 455 576
ASX Release
4 October 2013
Suite 7, 55 Hampden Rd Nedlands WA 6009 PO BOX 994 Subiaco WA 6904
P + 61 8 9389 9919 F + 61 8 9389 0576 E [email protected] W www.radariron.com.au
Contact:
Jonathan Lea Managing Director E [email protected]
Damon Sweeny Company Secretary E [email protected]
As previously announced Radar Iron Ltd (ASX: RAD) is looking at potential acquisitions to add shareholder value with a focus on low capex, early cash flow iron ore projects. Consistent with this, Radar has appointed Lusona Capital to assist in identifying specific opportunities in iron ore, particularly in Latin America.
Lusona is an investment and corporate advisory firm based in Sydney with an excellent record in the identification, acquisition and financing of mining projects.
Under the mandate Radar has issued new options to Lusona Capital as follows:
Tranche 1 – 2.5M unlisted options exercisable into fully paid ordinary shares at a five cent price each and vesting on the signing of an agreement to acquire an interest in an iron ore project currently under review.
Tranche 2 - 2.5M unlisted options exercisable into fully paid ordinary shares at a five cent price each and vesting on the first shipment of iron ore from the project currently under review.
Both tranches have a five year expiry from date of issue and specifically relate to an identified iron ore project in South America.
The Company will be seeking shareholder approval for this issue.
Directors:
Alan Tough - Chairman Jonathan Lea - Managing Director Ananda Kathiravelu - Non-Executive
Issued Capital:
81,340,070 Ordinary Shares 23,050,000 Unlisted Options
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ASX Code:
RAD (Fully Paid Ordinary Shares)
Yours faithfully,
For and on behalf of Radar Iron Ltd
Jonathan Lea Managing Director
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