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Re: News Releases - Tuesday, May 26, 2009
Bannerman Announces Proposed Equity Financing
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PERTH, AUSTRALIA--(May 26, 2009) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWS SERVICES OR FOR
DISSEMINATION INTO THE UNITED STATES
Bannerman Resources Limited (TSX:BAN)(ASX:BMN)(NSX:BAN) ("Bannerman"),
an Australian-based uranium mine development and exploration company,
wishes to announce that it proposes to implement a private placement
offering of ordinary shares (the "Placement") pursuant to the approval
obtained from its shareholders at the general meeting held on April 16,
2009 to raise up to A$30 million. Bannerman also intends to implement a
share purchase plan ("SPP") to enable existing shareholders in
qualifying jurisdictions to subscribe for Bannerman shares at the same
price as the Placement.
The Placement is being undertaken on a combined non-brokered and
brokered basis with Argonaut Securities Pty Ltd and Haywood Securities
Inc. The Placement will be priced in the context of the market.
Bannerman plans to use the net proceeds from the Placement to complete
the feasibility study of the Etango uranium project in Namibia, and for
resource definition and exploration drilling, other exploration costs,
working capital and general corporate purposes.
It is expected that trading in Bannerman's shares will be temporarily
halted on the Australian Securities Exchange pending finalisation of
the terms of the Placement.
The Placement is subject to certain conditions including, but not
limited to, appropriate broker and placement documentation, and
approval of the Toronto Stock Exchange.
A further announcement regarding the Placement will be made when final
details are available. Information regarding the SPP will be announced
separately.
About Bannerman - Bannerman Resources Limited is an emerging uranium
development company with interests in two properties in Namibia, a
southern African country considered to be a premier uranium mining
jurisdiction. Bannerman's principal and most significant asset is its
80% interest in the Etango Project situated southwest of Rio Tinto's
Rossing uranium mine and to the west of Paladin Energy's
Langer-Heinrich mine. Bannerman is focused on the feasibility
assessment and development of a large open pit uranium operation at
Etango. More information is available on the Company's website at
www.bannermanresources.com.au.
This announcement does not constitute an offer of securities for sale
in the United States or to "US persons" (as defined in Regulation S
under the US Securities Act of 1933, as amended (the "Securities
Act"))("US Person") and may not be sent or disseminated in, directly or
indirectly, the United States or to any US Person or any person acting
for the account or benefit of any US Person in any place. Bannerman
shares have not been and will not be registered under the Securities
Act or the securities laws of any state of the United States and may
not be offered, sold or otherwise transferred in the United States or
to or for the account or benefit of any US Person except in compliance
with the registration requirements of the Securities Act and any other
applicable state securities laws or in a transaction exempt from, or
not subject to, the registration requirements of the Securities Act and
applicable state securities laws.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Bannerman Resources Limited
Toronto, Ontario, Canada
Ann Gibbs, Investor Relations
(416) 388-7247
ann@bannermanresources.com
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Copyright (c) 2009 BANNERMAN RESOURCES LIMITED (BAN) All rights
reserved. For more information visit our website at
http://www.bannermanresources.com/ or send
mailto:questions@bannermanresources.com
Message sent on Tue May 26, 2009 at 6:22:33 PM Pacific Time
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Bannerman Resources
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DEVELOPMENT STAGE |
CODE : BMN.AX |
ISIN : AU000000BMN9 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Bannerman is a uranium development stage company based in Australia. Its main asset in development is ETANGO in Namibia and its main exploration properties are SWAKOP RIVER in Namibia and SERULE SOUTH, SERULE NORTH and DUKWE in Botswana. Bannerman is listed in Australia, in Canada and in Germany. Its market capitalisation is AU$ 3.1 billions as of today (US$ 2.0 billions, € 1.9 billions). Its stock quote reached its lowest recent point on March 27, 2020 at AU$ 0.02, and its highest recent level on April 23, 2024 at AU$ 3.68. Bannerman has 849 630 016 shares outstanding. |