(MENAFN- ABN Newswire)
Share Purchase Plan and Application Form Adelaide, April 20, 2018 AEST (ABN Newswire) - Core Exploration Limited ( <>
Chairman's Letter
Dear Shareholder
Core Exploration Limited Share Purchase Plan
The right to participate in the Offer under the Plan is optional and is available exclusively to shareholders who are registered as holders of fully paid ordinary shares in the capital of the Company (Shares) at 7:00 pm (AEST) on 13 April 2018 and whose registered address is in Australia or New Zealand (Eligible Shareholders).
The SPP is targeting to raise $2.0 million. If total demand for the SPP exceeds $2.0 million, then the Company reserves the right to close the SPP early and scale back applications or elect to increase the amount raised under the Plan.
The SPP issue price is 5.3 cents per New Share representing an 18.6% discount to the volume weighted average price of Shares over the last 5 days on which sales of the Shares were recorded by ASX Limited prior to the date of the announcement of the SPP on 16 April 2018.
It is intended that the funds raised from the SPP will be used as follows:
(a) Feasibility studies for the development of the Grants Lithium Project and other potential spodumene resources;
(b) Exploration and resource drilling at the high grade BP33 Prospect and other high grade spodumene pegmatites within the Finniss Lithium Project
(c) Exploration and resource drilling on other high priority pegmatite targets and lithium projects; and
(d) provide the Company with working capital to enable it to support its current operations.
Details of the Plan are set out in the Terms and Conditions and the personalised application form enclosed with this letter. The Board urges you to read these Terms and Conditions carefully and in their entirety before deciding whether or not to participate in the Plan. If you are uncertain whether New Shares are a suitable investment for you, then you should consult your financial or other professional adviser.
On behalf of the Board, I invite you to consider this opportunity to increase your investment in the Company.
To view the full release, please visit:
http://abnnewswire.net/lnk/5O717SXX
About Core Exploration Ltd
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