R3D1
Lead Manager
Offer Price
A$0.050
per share
Offer Size
A$500,000
Offer Price (Per Share)
A$0.050
Offer Size
A$500,000
Shares Available
10,000,000
Discount
-35.10%
Single Tranche Private Placement Offer utilising the company’s Listing Rule 7.1 and 7.1A capacity to raise up to $500k with the ability to take $900k in oversubscription at an issue price of $0.05.
The placement offer comes with 1:2 free attaching option with an exercise price of $0.10, expiring 31 December 2025. The issuance of the options requires shareholder approval at the General Meeting and the company aims to list the options subject to meeting ASX listing requirements.
Post the Placement Offer, the company will be looking to conduct a 1 for 10 ratio Loyalty Option Offer on the same terms as the placement offer.
The Directors of the Company will also be committing $200k worth of the Placement on the same terms subject to receiving shareholder approval.
Independent Non-Executive Chairman
Mr Malaeb is an experienced entrepreneur across a number of industries, including hospitality and construction, as well as having significant experience in mineral exploration and mining operations – both as an active investor and company director. He currently owns and operates a portfolio of hospitality businesses and real estate across Australia, which have been established over the past 30 years. Mr Malaeb was previously a Non-Executive Director of Critical Resources Limited (ASX:CRR), where he helped steer CRR through the past few years as one of its largest shareholders and as a board member.
Managing Director
Education: PhD, BSc(Hons), Grad. Dip. Securities Instit. MAusIMM, F Fin, MSEG, GAICD.
Steve’s professional experience spans more than 30 years covering periods in both the mining industry and financial sector. With a geology background, Steve has worked in exploration, feasibility and evaluation studies and mining in a range of commodities and in different parts of the world. In the financial sector, Steve has been involved in research, corporate transactions and IPOs spanning a period of more than 20 years, including senior roles at JPMorgan, Bankers Trust and Macquarie Equities.
Executive Director
Education: BCom, CA (NZ)
Bruce is an accountant and is currently an Executive Director of Breakaway Investment Group Pty Ltd which operates the Breakaway Private Equity Emerging Resources Fund. Bruce is a Director of a number of unlisted companies in the mining and financial services sectors including The Risk Board and Stibium Australia. Bruce has 35 years’ experience in the financial sector including 20 years in the banking industry primarily in the areas of strategy, finance and risk.
Independent Non-Executive Director
Mr. Thirnbeck is an experienced geologist with over 25 years in managing numerous mineral development projects in Papua New Guinea, Indonesia and Australia. He has been a Member of the Australasian Institute of Mining and Metallurgy since 1989 and holds B.Sc (Hons.) degree from University of Queensland.
