Altech Chemicals is pleased to announce that it has received commitments from a variety of institutional and professional investors for a share placement of ~$17 million. Proceeds from the placement will be applied to the commencement of construction at the Company’s high purity alumina plant site in Johor, Malaysia; to finalise HPA plant engineering; for corporate purposes (including the close of project finance); and working capital. Placement shares will be issued at a price of $0.165 per share, representing a 13.2% discount to the price of the Company’s shares as traded on the ASX at the close of trade on Wednesday 4 July 2018. The placement shares will be issued pursuant to the pre-approval obtained from shareholders in General Meeting on 12 June 2018. Sydney based Petra Capital Pty Ltd acted as the Sole Lead Manager of the placement.
Tempo Australia is pleased to announce the acquisition of Comsite Services. Comsite is a telecommunications maintenance services company conducting full end to end services on the mobile network infrastructure (on behalf of a major global telecommunications company for Vodafone and Optus) across regional NSW, ACT and Southern Queensland. Work includes reactive, preventative and corrective maintenance services.
White Rock Minerals is pleased to announce a cornerstone investment and strategic relationship with Sandfire Resources. The parties have entered into a subscription agreement to formalise this strategic relationship in relation to White Rock's globally significant high-grade zinc VMS Red Mountain Project in Alaska. $2.5 million equity placement - a placement of 208,333,334 fully paid ordinary shares in White Rock at $0.012 (1.2 cents) per share and the issue of 104,166,667 unlisted options to subscribe for White Rock shares to raise $2.5 million. The issue price of the shares represents a 41% premium over the one-month volume-weighted-average price of White Rock shares (0.85 cents) up to and including 9 July 2018. The options have an exercise price of $0.02 (2 cents) and expire 3 years from the date of the agreement. Following completion of the share placement, Sandfire will own approximately 14.2% of White Rock.
Kopore Metals is pleased to announce that it has received firm commitments to raise $2.67m (before costs) through the issue of approximately 106.9 million new fully paid ordinary shares in the Company at an issue price of 2.5 cents per share in a heavily subscribed placement to institutional and sophisticated investors.
