Southern Cross Goldfields Limited Issue of Shares to TrailStone UK Limited
20.10.2014 | ABN Newswire
Perth - Southern Cross Goldfields Ltd. (ASX:SXG) advises that it has completed the last step in its recent capital raising process.100,000,000 fully paid ordinary shares have been issued to TrailStone UK Limited ("TrailStone") at an issue price of 1 cent per share raising a total of $1 million. Upon the issue of the shares, TrailStone becomes a substantial shareholder of the Company with a holding representing 7.58% of the issued capital.
The placement has been undertaken in accordance with the terms and conditions which were approved by Shareholders at the Extraordinary General Meeting held on 4 September 2014. An Appendix 3B for the issue of the shares is attached.
In addition Southern Cross Goldfields Ltd. has issued 1,000,000,000 Warrants to TrailStone UK Limited. The Warrants have been issued as partial consideration for the A$35 million Credit Facility advanced by TrailStone as previously announced to ASX on 8 July 2014. The Warrants did not require shareholder approval because the Warrants themselves carry no voting rights, are not dilutionary to Shareholders as they are not currently exercisable and are not considered to be 'equity securities" at this time.
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.
David Kinsman, Director
T: +61-8-9215-7600
F: +61-8-9215-7600
E: admin@scross.com.au
www.scross.com.au