Alt Resources Ltd: Share Purchase Plan Extension of Closing Date
07.12.2017 | ABN Newswire
Canberra - Alt Resources Ltd. (ACN 168 928 416) (ASX:ARS) (Company) is pleased to advise that further to the Company's previous announcement dated 15 November 2017 regarding its Share Purchase Plan (SPP) the Board has decided to extend the closing date for the SPP offer by five days. Applications will now be accepted until 5.00pm on Wednesday 13 December 2017.The response to the SPP has been positive and the Company continues to receive application enquiries from shareholders so the extension will ensure that all eligible shareholders have ample time to submit their applications and are able to participate in the SPP.
Under the Plan, eligible shareholders are able to subscribe for up to $15,000 worth of Shares (SPP Shares) at an offer price of 5 cents each without participants being required to pay brokerage or other costs.
Key features of the Plan include:
- Eligible shareholders may purchase shares to the value of $1,000, $2,500, $5,000, $10,000 or $15,000.
- Applications will continue to be managed on a "first in first serve basis" and in any case must be received by no later than 5.00pm on Wednesday 13 December 2017.
- Shares under the Plan are expected to be issued on or about Monday 18 December 2017.
Use of Funds
It is intended that funds raised under the Plan and Placement will be used as follows:
a) Pay the Option Fee to secure the Bottle Creek Gold Project located at Mt Ida in Western Australia;
b) Undertake 8000 metres of RC drilling programs at the Bottle Creek Gold Project;
c) Undertake resource drilling at the Mt Roberts Gold Project located at Leinster in Western Australia; and
d) Provide working capital for the Company's current operations.
Details of the Company's current activities are set out in the announcements made by the Company to the ASX and are available from the ASX, or the Company's website at http://www.altresources.com.au
If eligible shareholders have already sent in their applications - thank you - no further action is required.
The revised timetable for the offer is set out in the table below. All other terms remain unchanged.
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Record Date for the Plan 14 November 2017
Announce the Plan 15 November 2017
Plan Opens 15 November 2017
Closing Date the Plan 13 December 2017
Quotation on ASX of SPP Shares under the Plan 18 December 2017
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These dates are indicative only. The Company may vary the dates and times of the Offer without notice.
About Alt Resources Ltd:
Alt Resources Ltd. (ASX:ARS) is an Australian based mineral exploration company. The Company portfolio of assets include the Paupong IRG Au-Cu-Ag mineral system in the Lachlan Orogen NSW, the Myalla polymetallic Au-Cu-Zn deposit, the Mt Roberts gold project and the newly acquired Mt Ida South gold project incorporating the Bottle Creek gold mine.
Source: Alt Resources Ltd.
Contact:
Alt Resources Ltd.
T: 1300-66-00-01 M: +61-406-069-243
E: info@altresources.com.au
www.altresources.com.au
