Follow-On Share Placement Following Successful Completion Of Aguia’s Rights Issue and Shortfall Placement
- Completion of the previously announced Rights Issue (February 5th 2015) and Shortfall Placement (April 9th, 2015) for proceeds of $1,015,803 via issuance of 25,395,077 shares at $0.04 per share.
- Announcement of Justin Reid as Executive Chairman and Managing Director and Catherine Stretch as Chief Commercial Officer (April 7th, 2015)
- Additional Share Placement: Up to 19,750,000 new ordinary shares at $0.04 per share will be issued to sophisticated and professional investors in April 2015, providing a further $790,000 in new capital.
Share Placement post Shortfall and Rights Issue
Due to overwhelming support from its shareholders, Aguia Resources Limited is pleased to announce that it has received further applications and indications of interest for up to 19,750,000 new ordinary shares at $0.04 per share, representing an additional capital raising of $790,000 (the “Share Placement”). Combined with the recent Rights Issue and Shortfall Placement the Company will have secured an approximate total of $1.8 million in new capital since the commencement of the year.
Justin Reid, Managing Director commented, “I am extremely pleased with the continued commitment of our shareholders as we evolve our Company towards becoming a material supplier in Brazil’s agribusiness sector. With the completion of this placement Aguia will be in a capital position to advance our main asset at Tres Estradas through preliminary engineering and continued de-risking while evaluating additional value accretive opportunities at Joca Tavares and Cerro Preto. Our complete focus will be on delivering our new resource, metallurgical study and Scoping Study / Preliminary Economic Assessment (PEA) to the market over the next few months.”
The Company confirms that under ASX Listing Rule 7.1 and 7.1A, approval for the Share Placement issue is not required by Shareholders. New shares issued will rank equally with the existing ordinary shares of the Company.