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YANDAL RESOURCES LIMITED — Capital/Financing Update 2021
Dec 19, 2021
66112_rns_2021-12-19_ca538da4-acd5-429e-88b8-d43e630b7589.pdf
Capital/Financing Update
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ASX Announcement 20 December 2021
Rights Issue Completion and Shortfall Notification
Yandal Resources Ltd (ASX: YRL , “Yandal Resources” or the “Company”) is pleased to advise its 1 for 6 Non-Renounceable Pro-Rata Rights Issue (“Rights Issue”) to raise approximately $6,872,646 (before costs) closed on 16 December 2021[1] and was strongly supported by existing shareholders.
The Company received valid applications and funds from Eligible Shareholders as follows:
| Details | New Shares | New Options | Gross Proceeds |
|---|---|---|---|
| Entitlement Securities | 9,438,912 | 4,719,456 | $3,775,565 |
| Applications for Shortfall Securities | 1,263,151 | 631,576 | $505,260 |
| Total Raised | 10,702,063 | 5,351,032 | $4,280,825 |
| RemainingShortfall Securities | 6,479,552 | 3,239,776 | $2,591,821 |
In accordance with the Prospectus dated 19 November 2021 and updated share registry calculations, a total of 6,479,552 New Shares for $2,591,821 and 3,239,776 attached New Options are available for the Company to place (“Shortfall”) on a best endeavours basis within three months of the closing date. The Company has received very strong interest for the acquisition of the remaining Shortfall from multiple investors which is currently being finalised.
Subject to finalisation and as per the timetable for the Rights Issue, the issue date of the New Shares and attached New Options (exercise price of 65 cents with an expiry date of 31 December 2022) will be 23 December 2021. The New Shares will commence normal trading on ASX on 24 December 2021.
Yandal Resources’ Managing Director; Mr Lorry Hughes commented:
“The Board is very pleased with the high level of financial support received from existing shareholders taking up their rights to strengthen our cash balance going into 2022. The funds will be used to continue aggressive exploration at our high-priority Brownfields gold prospects near Kalgoorlie and Wiluna in Western Australia”.
This announcement was authorised for release by the Board of the Company.
For further information please contact:
Bianca Taveira, Company Secretary
by email [email protected] or by phone 08 9389 9021
1 Refer to YRL ASX announcements dated 19 & 29 November 2021.
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Registered Address
Board Members
Gold Projects
Yandal Resources Limited Lorry Hughes Managing Director/CEO Ironstone Well (100% owned) ACN 108 753 608 ABN 86 108 753 608 Tim Kennedy Non-Executive Chairman Barwidgee (100% owned) Katina Law Non-Executive Director Mt McClure (100% owned) A 159 Stirling Highway Bianca Taveira Company Secretary Gordons (100% owned) Nedlands WA 6009 Shares on Issue 103,288,135 P PO Box 1104 T +61 8 9389 9021 Share Price $0.38 Nedlands WA 6909 E [email protected] Market Cap $39M W www.yandalresources.com.au ASX Code YRL