Southern Cross Goldfields Limited Notice of EGM and Explanatory Memorandum
![Southern Cross Goldfields Limited Notice of EGM and Explanatory Memorandum](https://www.minenportal.de/media/goldseiten-news.jpg)
The new cornerstone investor is TrailStone Group, a major commodity trading and logistics company with operations in the US, Europe and Australia.
As a condition of the TrailStone debt transaction, Southern Cross is simultaneously undertaking a recapitalisation involving a minimum $6 million equity raising (including a minimum $1 million from TrailStone). Sophisticated investors are being offered shares at a price of 1 cent per share, with one free option for each two shares purchased. The options are to be exercisable at a price of 1.4 cents per share.
As part of the recapitalisation, existing shareholders are to be invited to participate in a Share Purchase Plan (SPP) to provide them the opportunity to share in the benefits the transactions are expected to deliver to shareholders. The terms of the SPP will be announced in due course, but will be at least as attractive as the terms provided to sophisticated investors.
To view the EGM Agenda and proxy form, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-SXG-686867.pdf
About Southern Cross Goldfields Limited:
Southern Cross Goldfields Ltd. (ASX:SXG) is an Australian mining and exploration company that is on the move. Investors in SXG are exposed to a compelling combination of near-term cash flow and outstanding exploration potential in the gold sector.
Contact:
Southern Cross Goldfields Ltd.
Frank Terranova, Managing Director
T: +61-8-9215-7600
F: +61-8-9215-7600
E: admin@scross.com.au
www.scross.com.au