DGAP-News: Victory West Moly Limited: UNDERWRITTEN PLACEMENT OF $1.5 MILLION
(firmenpresse) - Victory West Moly Limited / Capital Increase/Letter of Intent
17.03.2010 19:38
Dissemination of a Corporate News, transmitted by
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16 March 2010
The Manager
Company Announcements Platform
Australian Securities Exchange
Exchange Plaza
2 The Esplanade
PERTH WA 6000
Dear Shareholders
UNDERWRITTEN PLACEMENT OF $1.5 MILLION
Victory West Moly Limited (ASX Code: VWM) is pleased to announce it has
completed arrangements for the capital raising of $1,500,000. These
additional funds will strengthen the company's cash position as it
continues its exploration programme of its Malala Molybdenum Project,
Sulawesi, Indonesia.
The funds will be raised via an underwritten placement of 10,000,000 new
fully paid ordinary shares at a price of $0.15 per share to institutional
and sophisticated investors, together with one free listed share option for
every two shares acquired through the placement. These listed options will
have an exercise price of $0.20 per option and an expiry date of 24
February 2012, being the same terms and conditions as the Company's current
listed options. The placement will be made without a disclosure document
and is expected to be completed on or before 16 April 2010.
The granting of the abovementioned options are subject to shareholder
approval at the Company's next General Meeting.
This offer is fully underwritten by Impact Nominees Pty Ltd. In
consideration for underwriting the offer, the underwriter will receive a
fee of 6% of the total underwritten amount.
Yours sincerely
LUKE MARTINO
Company Secretary
17.03.2010 19:38 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
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