SHARE PURCHASE PLAN
ASX: AZS 13 February 2015
Azure Minerals Limited (ASX: AZS) (Azure or the Company) is pleased to offer eligible shareholders the opportunity to apply for new, fully paid ordinary shares (New Shares) in Azure under a Share Purchase Plan (the Plan) to raise $1 million. The Plan is fully underwritten by Patersons Securities Limited (Patersons) who are acting as Lead Manager and Underwriter to the offer.
The Plan provides the opportunity for shareholders to subscribe for up to
$15,000 worth of New Shares without incurring brokerage or other transaction costs.
The issue price will be determined at the issue date of New Shares under the Plan based on a 20% discount to the volume weighted average price of Azure's shares traded on the ASX during the 5 days immediately prior to the issue date of the New Shares.
Funds raised under the Plan will be used to:
• advance the exciting Alacrán Copper Project, located in northern Mexico;
• fund ongoing exploration activities by the Company; and
• for general working capital.
The Directors have determined that offers under the Plan will be made to eligible shareholders, being those who are the registered holders of fully paid ordinary shares in the Company as at 4.00pm AEST on 12 February 2015 (Record Date), and whose address in the Company's register is situated in Australia or New Zealand.
Managing Director of Azure, Mr Anthony Rovira said:
"Only last month we announced an agreement to acquire the advanced Alacrán Copper Project which, at that time, I described it as the best under- explored copper project in Mexico. It has several high priority targets with near-term potential for defining mineralised zones, which we will investigate with this funding.
"Meanwhile, our joint venture with Kennecott (part of the Rio Tinto Group) will continue to explore the Promontorio Copper Project, with all activities sole- funded by Kennecott.
"I am also very pleased with the support shown by Patersons in underwriting
$1,000,000 of this issue."
Timetable
|
Event
|
Date
|
|
Record Date
|
4.00pm (WST) on 12 February 2015
|
|
Announcement Date
|
13 February 2015
|
|
Dispatch of Offer and Application Forms
to Eligible Shareholders
|
17 February 2015
|
|
Opening date for acceptances
|
17 February 2015
|
|
Closing date for acceptances (Closing
Date)
|
5.00pm (WST) on 6 March 2015
|
|
Allotment Date
|
13 March 2015
|
|
Dispatch of holding statements
|
16 March 2015
|
The timetable is indicative only and subject to change. The Company reserves the right to change the timetable at any time or cancel the Plan at any time before the Allotment Date, subject to applicable regulatory requirements.
Full details of the Plan will be set out in a letter to shareholders, the Plan Booklet and Application Form for Eligible Shareholders (Plan Documents). A copy of the Plan Documents will also be lodged with ASX.
If you have any enquiries in relation to the Plan, please call the Company
Secretary on +61 8 9481 2555.
-ENDS
For further information, please contact:
Tony Rovira Managing Director Azure Minerals
Ph: +61 8 9481 2555
Media & Investor Relations
Rupert Dearden
MAGNUS Investor Relations
Ph:+61 8 6160 4903
Mob: +61 422 209 889