Atrum Coal NL Issues Supplementary Prospectus
25.08.2015 | ABN Newswire
Sydney, Australia (ABN Newswire) - Atrum Coal NL (ASX:ATU) has today released a supplementary prospectus to the prospectus lodged on 3 August 2015 to cater for the increased demand for placement shares.Hihglights:
- Recently closed entitlement offer 98.47% taken up by existing shareholders
- Favourable response to placement leads Atrum to increase discretionary placement by $2 million
The recently closed entitlement offer was very well received by existing shareholders, with 98.47% of the entitlement offer taken up by existing shareholders under the entitlement offer and shortfall facility.
As a result of the demand for the placement shares, the Atrum board has determined to increase the discretionary placement offer from $1 million to $3 million.
Executive Chairman, James Chisholm commented:
"We are delighted with the take up of the entitlement offer by existing shareholders. The response was very positive, and as such, the Atrum board has determined to increase the discretionary placement."
Atrum confirms that it is progressing work on the Bulk Sample Permit and is in continued discussions with various parties in relation to a sell-down of the Groundhog North Mining Complex.
More information will be provided in due course.
About Atrum Coal NL:
Atrum Coal NL (ASX:ATU) is an emerging metallurgical coal explorer and developer.
The Company has a substantial coal position in British Columbia which, as a region boasts:
- Abundance of high quality PCI, coking and anthracite coals
- Well developed rail and port infrastructure with excess capacity
- Access to deep sea ports
- Competitive shipping distance to Asia
- Positive government stance on mining
The Company is building a quality portfolio of metallurgical coal assets suited to the Asian export market and the Board of Directors have a strong track record in identifying and developing world class coal assets in Australia and abroad.
Contact:
Atrum Coal NL
James Chisholm, Executive Chairman
M: +61-419-256-690
E: james@atrumcoal.com
Theo Renard, Company Secretary
M: +61-430-205-889
E: trenard@atrumcoal.com
Nathan Ryan, Investor Relations
M: +61-420-582-887
E: nathan@atrumcoal.com