Level 1 44A Kings Park Road West Perth WA 6005
PO Box1388
West PerthWA 6872
Telephone 08 9226 1777 www.magres.com.au
ABN34 121 370 232
Magnetic Resources NL (Magnetic or the Company) wishes to announce the issue of shares pursuant to the Company's placement announcement dated 29 August 2017, with the Company accepting subscriptions raising a total of $757,050 at $0.115 per share.
The shares will be issued in 2 tranches, with 5,278,696 new shares issued under this notice to sophisticated investors and a further 1,304,348 shares to be issued to related parties including Non-Executive Chairman, Mr Eric Lim, subject to shareholder approval at a meeting to be called.
The placement under this tranche has been conducted within the Company's 15% placement capacity.
The funds will be used for ongoing exploration at the Hawks Nest, Mertondale and Christmas Well projects, with an aggressive exploration programme planned for the coming financial year.
An Appendix 3B will follow.
For more information on the company visit www.magres.com.au or contact
George Sakalidis
Managing Director Phone (08) 9226 1777
Mobile 0411 640 337
Email george@magres.com.au
Magnetic Resources NL published this content on 07 September 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 07 September 2017 12:22:08 UTC.
Original documenthttp://www.magres.com.au/announcements/20170907%20Completion%20of%20placement.pdf
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