Hill End Gold Ltd

Published : August 01st, 2016

Placement and Subscription Agreement ( 124.6 kB)

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Placement and Subscription Agreement ( 124.6 kB)

ACN 072 692 365

ASX Limited Date: 1 August 2016

Exchange Centre

Level 6, 20 Bridge Street

Sydney NSW 1215

ASX Announcement ASX Code: HEG


Hill End Gold Limited (Company or HEG) is pleased to announce that it has entered into a share subscription agreement with a sophisticated investor to undertake a number of placements to raise up to approximately $1 million on the following terms.

Initially, the Company will raise $90,000 from the issue of shares to the investor using the Company's existing placement capacity under listing rule 7.1 and up to two additional tranches of $90,000 worth of shares will be issued in the 50 Business Day period following this initial share issue.

The remainder of the placement is conditional on:

  1. completion of due diligence on the business, tenements, assets, operations, financial position, financial performance and any further matters relevant to the Company satisfactory in all respects to the investor within 90 days, after which time no further $90,000 placements will be made;

  2. if required, the Treasurer consenting to the entry into the share subscription agreement by the investor and completion of the transactions contemplated by the agreement, pursuant to the Foreign Acquisitions and Takeovers Act 1975 (Cth) on conditions reasonably satisfactory to the investor;

  3. the shareholders of HEG approving and/or ratifying the issue of shares pursuant to the placements ;

  4. if required, HEG obtaining the written approval from the Minister of Energy and Resources in New South Wales, Australia to the transactions contemplated by the agreement in accordance with the conditions of the Tenements; and

  5. the parties obtaining all consents required to be obtained from third parties pursuant to the terms of all material agreements or otherwise required at law in connection with the transactions contemplated by the agreement.

The subscription price for each share issued pursuant to the placements is the lower of;

$0.002; and

  • the volume weighted average market price for shares calculated over the last 5 days on which sales in shares were recorded before the day on which the issue is made.

Funds raised pursuant to the placement will be used to progress the HEG gold projects to development.

The Company hopes to put the relevant resolutions to shareholders at its upcoming annual general meeting, and the notice of meeting will contain further details regarding the placements and subscription agreement.

The Company is exploring raising further capital and will keep shareholders informed of developments. For further information please contact:

Philp Bruce 0412 409555

Hill End Site

Sydney and Registered Office

Website: www.hillendgold.com.au

4 Bowen Street

Suite 111, 350 George Street

Email: [email protected]

Hill End NSW 2850

Sydney NSW 2000

Phone +612 6337 8343

Phone +612 8283 1915

Fax +612 6337 8345

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Data and Statistics for these countries : Australia | All
Gold and Silver Prices for these countries : Australia | All

Hill End Gold Ltd

ISIN : AU000000HEG7
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Hill End is a gold producing company based in Australia.

Hill End holds various exploration projects in Australia.

Its main asset in production is HILL END PROJECT in Australia and its main exploration properties are SWAN HILL and BIG NUGGET (HARGRAVES) in Australia and LAK SAO PROJECT in Laos.

Hill End is listed in Australia and in Germany. Its market capitalisation is AU$ 4.9 millions as of today (US$ 3.5 millions, € 3.1 millions).

Its stock quote reached its highest recent level on January 11, 2008 at AU$ 0.52, and its lowest recent point on March 17, 2017 at AU$ 0.00.

Hill End has 87 890 000 shares outstanding.

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Project news of Hill End Gold Ltd
8/21/2013Turquoise Hill enters into pre-bid acceptance deed in respec...
10/13/2010(Hill End Project)Reward Resource Upgrade
10/8/2010(Hill End Project)Hargraves Project - First JORC resource
9/28/2009(Hill End Project)Options conversion underwriting agreement up to $10.4m
7/24/2009(Hill End Project)excellent drilling and development reults - 5000 metres unde...
6/11/2009(Hill End Project)12,000 metre drill program at historic Hargraves gold projec...
3/20/2006(Hill End Project)2006 Technical report
Corporate news of Hill End Gold Ltd
8/1/2016Placement and Subscription Agreement ( 124.6 kB)
7/31/2016June 2016 Quarterly Activities and Cashflow Report ( 908.68 ...
1/27/2016Director Resignation ( 178.54 kB)
1/27/2016Appointment Of Chairman ( 119.37 kB)
1/27/2016Extension Of Rights Issue Closing Date ( 175.17 kB)
8/9/2015Appendix 3B 7 August 2015 ( 179.29 kB)
8/5/2015Amended 3B (9 July 2015) ( 245.19 kB)
2/12/2015Change in Substantial Holder ( 1016 kB)
2/9/2015December 2014 Quarterly Activities & Cashflow ( 946.01 kB)
2/9/2015Answer to ASX Query re December Quarter 5B ( 1.29 MB)
10/9/2009raises $11.6m in options conversion - accelerates agressive ...
11/2/2009produces 1612 ounces gold while accelerating development for...
9/11/2009Patriarch Wide Central Zone extended
8/21/2009(HEG) - Abundant visible gold intersected in wide zone
8/3/2009quarter production 1,851 oz at 11g/t - planning commences f...
6/24/2009(HEG) $2.65 million placement
6/4/20095,000 metre underground diamond drill program underway
5/25/2009Plant upgrade completed - gold recovery maintained at 97 per...
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