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XSTATE RESOURCES LIMITED — Capital/Financing Update 2025
Aug 6, 2025
66107_rns_2025-08-06_62a81c4f-5eb9-4a0a-8f41-66643da80802.pdf
Capital/Financing Update
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ABN 96 009 217 154
Electronic lodgement
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7 August 2025
Announcement to ASX
ASX ADMISSION UPDATE
PROSPECTUS OFFER PERIOD EXTENDED
Xstate Resources Limited ( ASX:XST ) ( Xstate or the Company ) confirms that it has received advice from the ASX that it will re-admit the Company to the Official List and quote its securities subject to it being satisfied the Company has met various conditions, which includes raising a minimum of $2 million from at least 300 new applications.
The Board considers the Company will be able to meet these conditions upon successful completion of the Offer and has elected to extend the closing date of the public offer under its Re-compliance Prospectus dated 26 June 2025 ( Offer ) to Thursday, 21 August 2025 at 5:00pm AWST to allow for final applications to be processed and funds banked.
An updated indicative timetable for re-instatement of the Company’s Shares to trading on the ASX is as follows, however the Company advises that it may close the offer earlier if the applications are processed and banked ahead of the closing date.
| Event | Date |
|---|---|
| Re-compliance Prospectus Offer closes | Thursday 21 August 2025 |
| Complete Offer and Acquisition of 51% of ATP 2077 | Thursday 28 August 2025 |
| Re-instatement to trading | Tuesday 9 September 2025 |
Existing shareholders and prospective applicants are still able to to apply via the Re-compliance Prospectus and Application Forms available from the Company’s website, https://www.xstateresources.com/access-terms or by contacting the Company via email at [email protected].
If the Company’s Shares are not re-instated to trading on the ASX by 26 September 2025 (or such later date as permitted by the Corporations Act), the Company will return any funds received under the Offer in accordance with the Re-compliance Prospectus.
This announcement has been authorised for release by the Board of Directors.
Andrew Bald Managing Director
About Xstate Resources Limited
Xstate Resources ( ASX:XST ) is an ASX listed company focused on the oil and gas sector. The Company has existing oil and gas exploration assets located in California in the United States of America. In April 2025, the Company acquired its Diona project located in the Surat Bowen basin of South-West Queensland.
www.xstateresources.com.au