🕐10.03.11 - 01:27 Uhr

Signature Metals [ASX: SBL] - Rights issue and placement to raise $16 million



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Signature Metals [ASX: SBL] - Rights issue and placement to raise $16 million

Signature Metals Limited (ASX: SBL) is pleased to announce the raising of up to A$16.25 million via a rights issue and placement to continue the exploration and development of the Konongo Gold Project in the world class Ashanti Gold Belt.

The Company has secured firm commitments from subscribers to participate in a placement by which the Company will raise $9.2 million (before costs) through the issue of 278.9 million shares at an issue price of 3.3 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 10 non renounceable entitlements issue at 3.3 cents per share to raise approximately $7.05 million (Offer).

The Offer will be fully underwritten by Patersons Securities and will be made pursuant to a prospectus to be lodged at ASIC in the near future (Prospectus).

The Placement will be issued immediately after lodgement of the Prospectus at ASIC under the Company�s existing capacity under Listing Rule 7.1.



Please find more details in the attached announcement.

For further information, please contact:

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

Media Enquiries:
Bill Kemmery
Fortbridge Consulting
Tel: +61 2 9331 0655
Mob: +61 400 122 449
E:
Luke Dean
Mob: +61 414 535 433
E:

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