Alt Resources Ltd: Share Purchase Plan
Canberra, Australia - Alt Resources Ltd. (ASX:ARS) is pleased to announce an offer to eligible shareholders to participate in Alt Resources' Share Purchase Plan (SPP).The SPP entitles eligible shareholders, irrespective of the size of their shareholding, to purchase up to $15,000 worth of Shares (SPP Shares) at a discount to the market and without incurring any brokerage of other costs. It will be offered to existing shareholders at a fixed price of $0.024 per share, being a discount of 5.06% to the volume weighted average market price (VWAP) for the SPP Shares over the 30 days before the day on which the issue was announced (Price).
Shares issued under the SPP will rank equally with existing ordinary shares. The SPP will not be underwritten. The terms and conditions of the SPP will be contained in an offer booklet which will be issued on 6 May 2019.
Funds raised from the issue will be used for resource and exploration drilling at the Company's flagship Mt Ida project located approximately 200km North West of Kalgoorlie in Western Australia as well as pit optimisation and development of the maiden reserves and working capital.
The maximum number of shares that can be issued under the SPP is 83,170,023 to raise a maximum of $1,996,080.
Key Dates for the SPP are:
Record Date for Share Purchase Plan: 29 April 2019
Announce Share Purchase Plan: 30 April 2019
Share Purchase Plan Opens: 6 May 2019
Closing date for Share Purchase Plan: 31 May 2019
Quotation on ASX of SPP Shares under the Plan: 7 June 2019
About Alt Resources Ltd:
Alt Resources Ltd. (ASX:ARS) is an Australian based mineral exploration company that aims to become a gold producer by exploiting historical and new gold prospects across quality assets and to build value for shareholders. The Company's portfolio of assets includes the Bottle Creek Gold Mine and the Mt Ida Gold Projects located in the Mt Ida gold belt Western Australia, the Paupong IRG Au-Cu-Ag mineral system in the Lachlan Orogen NSW, and the Mt Roberts gold project located near the town of Leinster in WA.
Alt Resources, having acquired historical and under-explored tenements in the Mt Ida gold belt, aims to consolidate the historical gold resources, mines and explore new gold targets identified within the Company landholding. Potential exists at Mt Ida to develop a centralised treatment plant to service multiple open pit mines and existing deposits within the Company's Mt Ida projects to become a sustainable and profitable mining operation.
Source:
Alt Resources Ltd.
Contact:
James Anderson CEO Alt Resources Ltd. E: james.anderson@altresources.com.au