Aussie Q Ressources

Published : July 01st, 2015

Rights Issue & Refinancing

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Rights Issue & Refinancing


1 July 2015.
Company Announcements Office Australian Securities Exchange Level 4, Exchange Centre
20 Bridge Street

Sydney NSW 2000

Aeon Metals Limited (formerly Aussie Q Resources Limited) ABN 91 121 964 725

Level 7, 88 Pitt Street, Sydney, NSW 2000, Australia P.O. Box 8155, Gold Coast MC. Qld 9726, Australia P: 61 7 5574 3830 F: 61 7 5574 3568

W: aeonmetals.com.au

E: [email protected]

ASX Code - AQR

FULLY UNDERWRITTEN RIGHTS ISSUE AND REFINANCED DEBT FACILITY

Aeon Metals Limited ("Aeon " or "the Company") announces that it is undertaking a pro rata, non renounceable entitlement issue ('the Offer") of 43,479,028 shares (subject to adjustment for roundings) at an issue price of 7.5 cents per share ("New Shares") on the basis of 1 New Share for each 7 shares held by shareholders on 10 July 2015 ("Record Date").
The issue will raise $3,260,927 before costs and the New Shares will rank equally with shares currently on issue. The issue will be fully underwritten by Pitt Capital Partners Ltd, a wholly owned subsidiary of Washington H Soul Pattinson Ltd. The timetable for the issue is set out at the end of this announcement.
Conditional upon completion of the issue, the current limited recourse loan notes facility ("Current Facility") ($20 million, 12% notes repayable no later than 17 June 2017 with interest capitalising half yearly) provided by funds managed by OCP Asia (Hong Kong) Limited ("OCP Asia") will be repaid and a new limited recourse loan notes facility entered into ("New Facility").
Funds managed by OCP Asia will provide the New Facility which will be for an aggregate of
$27,500,000. The proceeds of the New Facility will be used to repay (i) the outstanding principal under the Current Facility plus accrued interest and transaction costs ("Tranche 1") and (ii) the balance of the proceeds of the New Facility (approximately $4,850,000) will be available for further work at the Walford Creek Project ("Tranche 2").
The New Facility will be materially on the same terms and conditions of the Current Facility except that interest will capitalise on a quarterly basis, the repayment date is extended by 6 months to 17
December 2017 and there will be a mechanism whereby in the event of early repayment, the noteholder will be assured of an amount which will give the noteholder an internal rate of return of
12% up to the early repayment date.
The Company will also grant 73 million warrants ("New Warrants") on the same terms and conditions as the warrants already issued to funds managed by OCP Asia ("Current Warrants") except that the exercise price will be 9.35 cents per warrant and the warrants will expire on 17
December 2017. It is noted that as a consequence of the rights issue, the exercise price of the Current Warrants will reduce in accordance with an adjustment formula reflecting current market practice.
Provision of Tranche 2 funds will be conditional on shareholders:

x approving the issue of the New Warrants to the extent that the number of warrants

exceeds the Company's 15% placement capacity pursuant to ASX listing Rule 7.1; and

x providing approval pursuant to Section 611(7) of the Corporations Act in respect of the Current Warrants and the New Warrants to allow the relevant warrant holders to increase their voting power in the Company to more than 20% through the exercise of these warrants.

Subject to completion of the necessary Independent Expert's Report and valuation, it is expected that these shareholder approvals will be sought in September 2015.
After costs, it is expected that these capital management initiatives will provide approximately $8 million to Aeon to progress towards bankable feasibility work at the Walford Creek Project to underpin repayment of debt in December 2017 or sooner, and open the project to a wide range of development options to deliver value to Aeon shareholders.
Commenting on these initiatives, Managing Director Hamish Collins said: "The rights issue and loan refinance will enable a well-funded solution to advance Walford Creek towards a Bankable Feasibility Study, including the ability to convert the current Indicated and Inferred Resource to a Measured and Indicated status. The Company is appreciative of the support shown by our major shareholders, OCP Asia and Washington H Soul Pattinson Ltd, to further advance the world scale Walford Creek Project".

Non Renounceable Rights Issue Timetable:

Event

Date

Announcement of the Rights Offer

1 July 2015

Offer Document, Appendix 3B and Section 708AA Cleansing Notice released to the ASX

1 July 2015

Notice sent to Eligible Shareholders

2 July 2015

Ex date

(Date from which New Shares commence trading without the Entitlement to participate in the Rights Offer)

8 July 2015

Record Date

(Date for determining Entitlements of Eligible Shareholders to participate in the Rights

Offer)

10 July 2015 (5:00pm

AEST)

Offer Document and Entitlement and Acceptance Form dispatched to Eligible

Shareholders

14 July 2015

Opening Date of Rights Offer

14 July 2015

Closing Date of Rights Offer

27 July 2015 (5:00pm

AEST)

New Shares quoted on deferred settlement basis

28 July 2015

Notification to ASX of close of Rights Offer, New Shares taken up and shortfall

30 July 2015

Despatch date

(Expected date of dispatch of transaction confirmation statements)

4 August 2015

Normal trading

(Expected date for commencement of normal trading on the ASX of New Shares issued under the Rights Offer and Top-Up Offer)

5 August 2015

For further information, please contact:

Hamish Collins Managing Director Aeon Metals Limited Ph: 07 5574 3830
[email protected]

Read the rest of the article at www.noodls.com
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Aussie Q Ressources

DEVELOPMENT STAGE
CODE : AQR.AX
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Aussie Q Res. is a copper and silver development stage company based in Australia.

Aussie Q Res. develops copper, silver and molybdenum in Australia, and holds various exploration projects in Australia.

Its main asset in development is WHITEWASH in Australia and its main exploration properties are GORDON'S KNOB, KILDARE, KIWI CARPET and RAWBELLE in Australia.

Aussie Q Res. is listed in Australia. Its market capitalisation is AU$ 1.2 billions as of today (US$ 851.5 millions, € 752.7 millions).

Its stock quote reached its lowest recent point on December 25, 2015 at AU$ 0.03, and its highest recent level on February 21, 2020 at AU$ 4.10.

Aussie Q Res. has 347 829 984 shares outstanding.

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Annual reports of Aussie Q Ressources
2012 Annual Report
Annual Report to Shareholders 2012
2011 Annual Report
Annual Report to Shareholders 2011
2009 Annual Report
2008 Annual report
2007 Anuual Report
Nominations of Aussie Q Ressources
12/21/2011Managing Director Appointment
Financials of Aussie Q Ressources
3/14/2012Half Yearly Report & Accounts
4/29/2011AQR Quarterly Activities & Cashflow Report Mar 2011
Project news of Aussie Q Ressources
9/10/2012John Hill Drill Results
9/6/2012Letter of Intent with Rio Tinto Exploration Pty Ltd
5/9/2012John Hill Discovery Results
2/23/2012Progress Report Drilling at John Hill
8/30/2011AQR Signs New Drilling Contract
5/31/2011(Whitewash)Resource Estimate Clarification
5/30/2011(Whitewash)Resource Update Greater Whitewash & Summary Report
4/28/2008EXTENSIVE BROAD HIGH GRADE MOLYBDENUM INTERCEPTS AT WHITEWAS...
4/21/2008(Whitewash)ADDITIONAL NEW MOLYBDENUM INTERCEPTS
4/10/2008(Juicy Fruit)1000m RC DRILLING PROGRAMME AT JUICY FRUIT COMPLETED
3/31/2008(Whitewash)CONFIRMS NEW MOLYBDENUM INTERCEPTS
3/7/2008(Whitewash)PROJECT - UPDATE
1/29/2008(Whitewash)CONFIRMS FURTHER NEW MOLYBDENUM INTERCEPTS
12/12/2007(Whitewash)LATEST DRILL RESULTS CONFIRM MOLY GRADE AT WHITEWASH
10/16/2007HIGH GRADE MOLYBDENUM ASSAYS AT WHITEWASH PROJECT IN CENTRAL...
Corporate news of Aussie Q Ressources
7/2/2015Rights Issue Letter to Shareholders
7/1/2015Cleansing Notice Rights Issue
7/1/2015Rights Issue & Refinancing
6/24/2015Result of General Meeting
11/14/2012Becoming a Substantial Shareholder
11/12/2012Appendix 3B
11/9/2012SLWQ Transaction
11/8/2012Rio Tinto JV Executed
10/31/2012uarterly Activities & Cashflow Report Sep 2012
10/29/2012Notice of 2012 AGM
8/27/2012Name Change to Aeon Metals Limited
7/31/2012uarterly Activities & Cashflow Report Jun 2012
5/29/2012Change of Share Registry Provider
5/23/2012Substantial Shareholding SOL
5/21/2012Appendix 3Z, Messrs. Griff & Haren
5/11/2012Cleansing Notice
5/8/2012Reinstatement to Official Quotation
5/8/2012Appendix 3B
5/8/2012Placement
5/4/2012Suspension from Official Quotation
5/2/2012Trading Halt
4/30/2012uarterly Activities & Cashflow Report Mar 2012
3/30/2012Appendix 3Y John Godhy
3/28/2012Appendix 3Y John Goody
2/21/2012Appendix 3B New Issue Announcement
2/21/2012(Kiwi Carpet)Progress Report Kiwi Carpet Greater Whitewash
1/31/2012uarterly Activities & Cashflow Report Dec 2011
1/9/2012Appendix 3B Exercise of Options
11/29/2011Results of 2011 Annual General Meeting
10/27/2011Notice of Annual General Meeting
10/27/2011uarterly Activities & Cashflow Report Sep 2011
9/22/2011(Whitewash)Metallurgical Test Results Greater Whitewash
9/5/2011ANALYST'S REPORT ON AQR
7/29/2011uarterly Activities & Cashflow Report Jun 2011
7/31/2008Resources Announcement
7/7/2008Resources Announcement
6/24/2008Resources Announcement
5/1/2008Report on Activities – March Quarter 2008
10/23/2007Confirms Four-Fold Expansion of Mineralisation
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AUSTRALIA (AQR.AX)
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