🕐22.09.10 - 02:27 Uhr

Signature Metals Limited [ASX: SBL] - Rights issue and placement to raise up to $13.4 million



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Signature Metals Limited [ASX: SBL] - Rights issue and placement to raise up to $13.4 million

Signature Metals Limited (ASX: SBL) announces the raising of up to A$13.4 million via a rights issue and placement to accelerate the exploration and development of the Konongo Gold Project in the world class Ashanti Gold Belt, Ghana.

The Company has secured firm commitments from subscribers to participate in a placement by which the Company will raise $10 million (before costs) through the issue of up to 500 million shares at an issue price of 2 cents each (Placement).

Patersons Securities have been appointed Lead Managers for the Placement.

In addition to the Placement the Company will undertake a 1 for 8 renounceable entitlements issue at 2 cents per share to raise approximately $3.4 million (Offer).

The Offer is intended to be fully underwritten by Patersons Securities Limited and will be made pursuant to a prospectus to be lodged at ASIC in the near future.

The successful completion of the Placement and Offer will place the Company in a strong financial position to accelerate its aggressive exploration programme.

Please refer to the attached announcement for more details.

For further information, please contact:

Bill Oliver
Managing Director
E-mail:
Tel: +61 8 9481 0101

Media:
Fortbridge +612 9331 0655
Bill Kemmery +61 400 122 449

Luke Dean +61 414 535 433


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