Business
Calidus completes A$10m placement
Calidus completes A$10m placement.
About this update from Keras Resources Plc
[{"type":"text","content":"\n \nRNS Number : 9319R Keras Resources PLC 27 September 2017 \n\nKeras Resources plc / Index: AIM / Epic: KRS / Sector: Mining\n27 September 2017\nKeras Resources plc ('Keras')\nCalidus completes A$10m placement\n \nKeras Resources plc, the AIM listed mineral resource company, is pleased to provide an update following an announcement published by Calidus Resources Limited ('Calidus'), in which Keras currently holds a 217.25m shares, which will increase to 723.75m shares as and when Calidus meets certain exploration milestones. Calidus has announced the placement of approximately 243.9m shares at an issue price of A$0.041/share to both new and existing institutional and sophisticated investors in Australia, Asia and North America to raise gross proceeds of up to A$10m. \n \nThe capital raising is consistent with the Calidus' strategy of strengthening its institutional shareholder base and increasing its profile in global financial markets.\n \nThe new shares will be allotted in two tranches, the first tranche (95,061,395 shares) pursuant to Calidus' existing capacity and the second tranche (148,841,045 shares) subject to shareholder approval. \n \nHighlights of Calidus' announcement:\n \n• Calidus to raise up to A$10m in heavily over-subscribed Placement to advance exploration. \n \n• Cornerstone participation from Novo Resources Corp. (TSX.V:NVO) of A$1.5 million represents a strong endorsement of Calidus' strategy and regional synergies as Calidus transitions towards development.\n \n• Strong support received from existing sophisticated and institutional shareholders and a number of new high quality institutional investors introduced to Calidus' share register.\n \n• 243,902,440 new shares to be issued at A$0.041 per share, representing a 10.9% discount to last close and a 12.5% discount to the 5 day VWAP.\n \n• Funding allows the acceleration of exploration at Warrawoona to build on Calidus' current resource base of 410,000 ounces at Klondyke and advance a number of existing prospects and new targets that host significant exploration potential.\n \n• Post completion of the Capital Raising, Calidus is well funded through to the commencement of the planne...