Perth-based exploration company Bannerman Resources Ltd has won approval to list on the Toronto Stock Exchange, the company has announced.
The full text of a company announcement is pasted below
Bannerman Resources Limited ("Bannerman") is pleased to announce that the Toronto Stock Exchange ("TSX") conditionally approved the listing of Bannerman's ordinary shares.
The Company will continue to be domiciled in Australia and continue its existing listing on the Australian Stock Exchange ("ASX"). The listing on the main board of the TSX will expose Bannerman to deep Canadian and US capital markets, the likely source of a significant portion of the financing required to fund the bankable feasibility study in 2008.
Haywood Securities Inc ("Haywoods") who led the recent capital raising of AUD$8.68 million to North American and European institutional investors has been appointed lead agent for the Canadian listing. There will not be a capital raising associated with the TSX listing. Haywood was co-lead agent for the initial North American financing for Paladin Resources Limited immediately prior to its listing on the TSX in April of 2005.
In conjunction with the listing, the Company has engaged an investor relations manager based in Toronto and will seek to appoint a fifth member to the board of the Company with North American and Canadian capital markets experience.
Bannerman also wishes to announce the appointment of Mike Robbins to the role of Chief Financial Officer. Mike is an accountant with over 22 years experience within the resources industry both at project and corporate level. Mike has previous Canadian experience in his roles as Chief Financial Officer for Asian Mineral Resources Ltd (TSX:V) and as Company Secretary and Finance Manager for Moto Goldmines Ltd (TSX and AIM).
The Company's ordinary shares will trade under the symbol BAN once listed on the TSX. The Company will advise the effective date of trading shortly.
