Orocobre Limited - Completion of Underwritten Share Purchase Plan
12.03.2015 | ABN Newswire
Brisbane, Australia (ABN Newswire) - Orocobre Ltd. (ASX:ORE) (TSE:ORL) ("Orocobre" or "the Company") has successfully completed its underwritten Share Purchase Plan (SPP).The Company received strong support from shareholders with eligible shareholders applying for A$3,976,500 of shares under the SPP, which closed on the 10th March. In total A$10,000,000 will be raised under the SPP with A$3,976,500 of shares being issued to eligible shareholders, and the balance of the shares to be issued pursuant to the SPP being underwritten by Canaccord Genuity (Australia) Limited.
The SPP was completed at an issue price of A$2.55 per share. The funds raised under the SPP together with the recently completed private placement bring the total amount raised by Orocobre to A$50,000,000.The SPP shares are to be allotted and holding statements despatched on the 17th March 2015.
About Orocobre Limited:
Orocobre Ltd. is listed on the Australian Securities Exchange and Toronto Stock Exchange (ASX:ORE) (TSX:ORL), and is building a substantial Argentinian-based industrial minerals company through the construction and operation of its portfolio of lithium, potash and boron projects and facilities in the Puna region of northern Argentina. The Company has built, in partnership with Toyota Tsusho Corporation and JEMSE, the first large-scale, greenfield brine based lithium project in 20 years at the Salar de Olaroz with planned production of 17,500 tonnes per annum of low-cost battery grade lithium carbonate. The full monthly production rate is expected to be reached in the last quarter 2015.
Contact:
Australia and Asia, David Hall
Business Development Manager
Orocobre Ltd.
T: +61 7 3871 3985
M: +61 407 845 052
E: dhall@orocobre.com
North America
James Calaway, Chairman
Orocobre Ltd.
M: +1 (713) 818 1457
E: jcalaway@orocobre.com