QX Assets Restricted (ASX: QXR, ‘QXR’) is happy to announce that it has obtained agency commitments to boost $1,000,000 (earlier than prices) via a two-tranche share placement to new and current subtle {and professional} buyers (Placement).
Highlights
- Agency commitments obtained for a two-tranche placement to boost $1 million (earlier than prices) at $0.005 per share (Placement)
- Robust bids have been obtained for the Placement, with help from new and current institutional and complex shareholders, and $150,000 participation by administrators (topic to Shareholder approval)
- Proceeds from the Placement can be used in the direction of progressing the Firm’s Queensland gold tasks, Western Australian iron ore and arduous rock lithium tasks, for working capital functions, and to determine and assess new complimentary challenge alternatives
200 million shares can be issued beneath the Placement at 0.5c per share, being a 16% low cost to the Firm’s final closing worth of $0.006 and a 16% low cost to the 15-day VWAP.
- 170,000,000 New Shares to be issued beneath Itemizing Guidelines 7.1 and seven.1A to skilled and complex buyers to boost a complete of $850,000 (Tranche 1); and
- 30,000,000 New Shares in a second tranche to boost an additional $150,000 from administrators Maurice Feilich and Daniel Smith (and their associates) (Tranche 2).
The Placement consists of one free attaching possibility for each two Shares subscribed for (Attaching Choice), exercisable at $0.01 every and expiring 3 years from the date of challenge. Tranche 1 Placement Shares can be issued pursuant to the Firm’s current placement capability beneath Itemizing Guidelines 7.1 and seven.1A.
The Subject of the New Shares beneath Tranche 2 of the Placement and all of the Attaching Choices are topic to shareholder approval at a Basic Assembly to be held in mid-December. Settlement of Tranche 1 of the Placement is because of happen on 6 November 2024.
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