Placement Agreement COY ELS
ASX Announcement
ADDRESS PHONE
PO Box 6965 +61 (07) 5510 3994
Gold Coast Mail Centre FAX
Qld 9726 Australia +61 (07) 5510 3997
EMAIL
[email protected]
ABN 54 126 490 855 WEBSITE
www.coppermoly.com.au
11 April 2016 ASX Code: COY
PLACEMENT AGREEMENT
Coppermoly Ltd (Coppermoly or the Company) is pleased to announce that it has issued further securities today to new investor, Ever Leap Services Limited (Ever Leap) following approval by Coppermoly Shareholders at a general meeting held 30 March 2016 (see the ASX announcements dated 26 February 2016 and 30 March 2016 for further details). This issue of additional securities raises approximately
$2,269,000 (before costs).
An Appendix 3B for this issue of securities is attached to this announcement.
Coppermoly Director, Dr Wanfu Huang said "Coppermoly is delighted to have now finalised the funding agreement with major investor Ever Leap in a very difficult capital market for junior exploration companies. With the final receipt of funds from Ever Leap, Coppermoly will get back on the ground in PNG and direct its efforts on its major projects with the prime purpose of increasing the value of the Company's assets.
Coppermoly will concentrate its immediate efforts on the most advanced project, the Mt Nakru tenement, which includes the Nakru 1 and adjacent Nakru 2 prospects where drilling in 2014 intersected high grade near-surface copper mineralisation. The exploration effort will also be expanded to other prospective areas on the Nakru tenement, Simuku and the Company's other tenements."
APPOINTMENT OF DIRECTOR
With the allotment of these securities Ever Leap is entitled to appoint a representative to the Board of Coppermoly. Ever Leap have nominated Mr Lin Zule as their representative. Mr Lin holds a master's degree in finance, and is currently the CFO of Ever Leap parent company Shanxi Xierun Investment Limited. Mr Lin has more than 15 years of experience in financial management. The existing Coppermoly board has approved Mr Lin's appointment as a Director of Coppermoly.
SECTION 708A CORPORATIONS ACT CLEANSING STATEMENT
Coppermoly provides the following Cleansing Notice under Section 708A of the Corporations Act 2001 (Cth) (Act) in relation to the allotment of 317,250,000 new fully paid ordinary shares in Coppermoly (Shares) to Ever Leap as detailed in the ASX announcements mentioned above and as detailed in the attached Appendix 3B.
In accordance with the requirements of section 708A (5)(e) of the Act, under which this notice is given, the Company confirms that:
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As a disclosing entity, the Company is subject to regular reporting and disclosure obligations;
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The shares issued are in the same class of ordinary shares as are quoted on the ASX;
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The Company issued the shares without the disclosure to investors under Part 6D.2 of the Act, and that notification is being given under 708A (5)(e) of the Act;
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As at the date of this notice:
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the Company has complied with the provisions of Chapter 2M of the Act as they apply to the Company, and
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the Company has complied with section 674 of the Act; and
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As at the date of this notice there is no excluded information (as that expression is defined in sections 708A(7) and 708(8) of the Act) in relation to the Company.
On behalf of the Board. Paul Schultz
Company Secretary Coppermoly Ltd
About Coppermoly: Coppermoly (COY) has been listed on the ASX since 2008. Coppermoly's mineral exploration activities are focused entirely on the island of New Britain in PNG where it holds five exploration licences. These licences cover copper, gold, silver, zinc, molybdenum and iron mineralisation. The five current tenements are Mt Nakru, Simuku (a newly consolidated licence combining old EL 1077 Simuku and EL 1445 Talelumas), Makmak, Powell and Wowonga.