ASX Announcement
3 August 2015
Equity Placement of A$1.71 million
Sumatra Copper & Gold plc ("the Company") is pleased to announce it has received irrevocable and firm commitments to raise approximately A$1.71 million (equivalent to US$1.25 million at an exchange rate of 0.7321) by way of a placement of CHESS Depositary Interests (CDIs) in the Company ("CDI Placement") to professional and sophisticated investors ("Investors").
Under the terms of the CDI Placement the Company will issue 34,148,342 CDIs, representing approximately 4.8% of the total CDIs on issue subsequent to issue of the Placement CDIs, at a price of A$0.05 per CDI ("Issue Price").
The Company has also made an irrevocable and firm allocation to Investors of 17,074,171 warrants for no consideration ("Warrants"), each Warrant giving the holder the right to subscribe for one CDI in the Company ("Warrant Placement"). The Warrant Placement equates to 1 Warrant per 2 CDIs to be issued under the CDI Placement. The Warrants have an exercise price of A$0.057 each, a term of two years and are not transferable. The Warrants will not be quoted on ASX.
The Company intends to use the net proceeds of funds raised from the CDI Placement for the purposes of the construction and development of the Company's Tembang Gold-Silver Project ("Tembang"), associated working capital requirements and extensional exploration at Tembang.
The CDI Placement and Warrant Placement are being undertaken utilising the Company's existing placement capacity under ASX Listing Rules 7.1 and 7.1A and consequently the Company will not require shareholder approval in order to complete the CDI Placement and Warrant Placement.
Settlement of the CDI Placement is scheduled to take place on Tuesday 4 August 2015 with issue of
CDIs and issue of Warrants scheduled for Wednesday 5 August 2015.
END
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Directors
Steve Robinson
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Jocelyn Waller
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Contact
Level 1, 5 Ord Street
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Registered Address
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Non-Executive Chairman
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Non-Executive Director
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West Perth 6005
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39 Parkside, Cambridge
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Western Australia
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United Kingdom CB1 1PN
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David Fowler
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Gavin Caudle
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Managing Director
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Non-Executive Director
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T: +61 8 6298 6200
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Registered No. 5777015
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E: [email protected]
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Adi Sjoekri
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ASX Code: SUM
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Executive Director
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www.sumatracoppergold.com
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For further information please contact:
David Fowler Phil Retter Managing Director Investor Relations Sumatra Copper & Gold plc NWR Communications
+61 8 6298 6200 M: +61 407 440 882 [email protected] [email protected]
About Sumatra Copper & Gold
Sumatra Copper & Gold plc (ASX: SUM) is an emerging gold and silver producer and the pre-eminent precious metals explorer in southern Sumatra, Indonesia. The Company has a significant project portfolio encompassing projects ranging from greenfield exploration projects to brownfield, near-production opportunities.
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