57b75d59-7c0b-4495-8103-cc51d7c4a908.pdf
ASX RELEASE
22 June 2016
UraniumSA Limited ("UraniumSA")
ASX Code: USA
ABN 48 119 978 013
Ground Floor
28 Greenhill Road
Wayville SA 5034
Phone +61 8 8132 0577
Fax +61 8 8132 0766
www.uraniumsa.com.au [email protected]
BOARD OF DIRECTORS
Alice McCleary Chairman Martin Janes Director Russel Bluck Director & Geoscience Manager
David Paterson Director & Acting CEO
PROJECTS
South Australia
Samphire ELs 4979, 5426 JV
Blackbush MC 4280
Murninnie EL 5440
Wild Horse Plains EL 4693 JV Muckanippie EL 4694
ISSUED CAPITAL
22 June 2016
Shares on Issue: 226,520,536 Quoted shares: 226,520,536
Unlisted Options: 9,650,000
INVESTOR INQUIRIES
[email protected]
FUNDING FACILITY UPDATE
UraniumSA Limited advises that it has reached agreement with its $300,000 secured convertible debt facility ("Facility") lender to convert $165,000 of the drawn funds into equity pursuant to the terms of the Debt Facility Agreement (Agreement) dated 24 April 2015. The issue price of the shares is a 15% discount to the 5 day VWAP ending 21 June 2016. Additional detail is provided in the attached Appendix 3B.
On 20 May 2016 UraniumSA released to ASX a notice of Extraordinary General Meeting (EGM) related to the proposed demerger of its Samphire Uranium Project Assets. This notice indicated that the Facility would likely be extinguished following the EGM. The conversion of $165,000 into fully paid ordinary shares is the first step. The balance of the funds owed being
$135,000 will be repaid in cash by 31 July 2016.
The ongoing support from UraniumSA's largest shareholder and facility lender is recognised by the company.
All resolutions were passed at today's EGM as advised to ASX earlier today. There was strong proxy vote support for the demerger.
UraniumSA takes this opportunity to again thank shareholders who participated in the recent Share Purchase Plan (SPP).
Inquiries regarding this report and company business may be directed to:
David Paterson - Acting CEO
+61 8 8132 0577
+61 417 823 654
VISIT OUR WEBSITE
www.uraniumsa.com.au
1
About UraniumSA Limited
UraniumSA is an Adelaide based explorer specialising in uranium mineralisation within a substantial portfolio of properties in South Australia's Gawler Craton.
The Company has discovered sediment hosted uranium mineralisation within Exploration Licence 4979, Samphire, which is located 20km south of the industrial city of Whyalla on the eastern Eyre Peninsula in South Australia. The Exploration Licence is owned and operated by S Uranium Pty Ltd (formerly Samphire Uranium Pty Ltd) a wholly owned subsidiary of UraniumSA Limited.
The Samphire project contains the:
Blackbush deposit with an estimated inferred resource 64.5 million tonnes of mineralisation at a bulk grade of 230ppm containing 14,850 tonnes U3O8 at a 100ppm eU3O8 cut-off grade (JORC 2012).
(ASX 8 April 2011)
Plumbush deposit with an estimated inferred resource 21.8 million tonnes of mineralisation at a bulk grade of 292ppm containing 6,300 tonnes U3O8 at a 100ppm eU3O8 cut-off grade (JORC 2004).
(ASX 27 September 2013)
On 6 April 2016 the Company announced a proposal that involves the demerger of Samphire Uranium Limited ('SUL') as a separate standalone unlisted public company. SUL will be the owner of the Samphire Project Uranium Assets. Shareholder approval of the demerger will result in the following structure with UraniumSA shareholders owning shares in both entities pro-rata to their holding in UraniumSA at the time.
URANIUMSA LIMITED - ORGANISATION STRUCTURE - 2016 (Post - Proposed Demerger)
A B
UraniumSA Limited (ASX code: USA Ultimate Holding Co.)
Function
owner and operator of plant and equipment
Samphire Uranium Limited (unlisted Public Company) (ACN 613 018 385)
Fatjack Pty Ltd (100%)
Boston Minerals Pty Ltd (100%)
S Uranium Pty Ltd (ACN 116 348 915)
(fomerly Samphire Uranium Pty Ltd)
(100%)
Function
Corporate strategy and delivery, finance and asset management/asset holder
Function Subsidiary holding exploration assets
Function Subsidiary holding exploration assets
Function
Owner of Samphire Project, exploration for uranium and base metals
Angus Resources Pty Ltd (100%)
Assets
100% Fatjack Pty Ltd 100% Boston Minerals Pty Ltd
Assets
EL4694 - Muckanippie (basement complex)
Assets
Cleve Project
ELA 2015/00113 - Sheoak Hill
ELA 2015/00114 - Lock
Cariwerloo Project
ELA 2015/00126 - Whymlet
Assets
Samphire Project (host of Blackbush & Plumbush deposits)
EL4979 - Mullaquana
EL5426 - Midgee (JV Hiltaba) EL5440 - Murninnie
EL4693 - Wild Horse Plain (JV Pirie Resources Pty Ltd) (100% interest in JV Uranium)
Samphire - Nonowie pastoral leases
100% Angus Resources Pty Ltd (owner of plant & equipment)
Assets
Backfill And rehabilitation plant, down hole geophysical logging plant
The exploration results and mineral resources reported herein, insofar as they relate to mineralisation, are based on information compiled by Mr Russel Bluck a Director of UraniumSA Limited and Member of the Australian Institute of Geoscientists with sufficient experience relevant to the style of mineralisation and type of deposits being considered, and to the activity which is reported to qualify as a Competent Person as defined by the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code, 2012 Edition). Mr Bluck consents to the inclusion in the report of matters based on his information in the form and context in which it appears. It should be noted that the abovementioned exploration results are preliminary.
2
Appendix 3B New issue announcement
Appendix 3B
Rule 2.7, 3.10.3, 3.10.4, 3.10.5
New issue announcement, application for quotation of additional securities
and agreement
Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.
Introduced 01/07/96 Origin: Appendix 5 Amended 01/07/98, 01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05, 01/08/12, 04/03/13
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Name of entity
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UraniumSA Limited
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We (the entity) give ASX the following information.
Part 1 - All issues
You must complete the relevant sections (attach sheets if there is not enough space).
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1
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+Class of +securities issued or to be issued
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Fully paid ordinary shares
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2
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Number of +securities issued or to be issued (if known) or maximum number which may be issued
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12,364,181 fully paid ordinary shares
Issued to the Lender, following the conversion of $165,000 of outstanding debt into shares, pursuant to the terms and conditions of the Funding Facility announced to ASX on 30th April 2015.
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3
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Principal terms of the +securities (e.g. if options, exercise price and expiry date; if partly paid
+securities, the amount outstanding and due dates for payment; if
+convertible securities, the conversion price and dates for conversion)
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Fully paid ordinary shares
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+ See chapter 19 for defined terms.
04/03/2013 Appendix 3B Page 1
Appendix 3B
New issue announcement
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4
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Do the +securities rank equally in all respects from the +issue date with an existing +class of quoted
+securities?
If the additional +securities do not rank equally, please state:
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the date from which they do
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the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment
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the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment
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Yes
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5
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Issue price or consideration
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1.3345 cents per share
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6
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Purpose of the issue
(If issued as consideration for the acquisition of assets, clearly identify those assets)
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Fully paid ordinary shares issued to the Lender, following the conversion of $165,000 of outstanding debt into shares, pursuant to the terms and conditions of the Funding Facility announced to ASX on 30th April 2015.
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6a
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Is the entity an +eligible entity that has obtained security holder approval under rule 7.1A?
If Yes, complete sections 6b - 6h in relation to the +securities the subject of this Appendix 3B, and comply with section 6i
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Yes
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6b
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The date the security holder resolution under rule 7.1A was passed
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19 November 2015
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6c
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Number of +securities issued without security holder approval under rule 7.1
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Nil
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6d
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Number of +securities issued with security holder approval under rule 7.1A
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Nil
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+ See chapter 19 for defined terms.
Appendix 3B Page 2 04/03/2013