Microsoft Word - 15-10-08 Successful completion of placement
13 October 2015
SUCCESSFUL COMPLETION OF PLACEMENT
Terrain Minerals Limited (ASX: TMX) ('Terrain' or 'the Company') is pleased to announce that is has issued 60 million shares announced on 7 October 2015 to raise
$300,000.
34,900,000 shares have been issued pursuant to Terrain's Listing Rule 7.1A capacity. The shares to be issued represent 8.6% of the post placement capital in the Company. Pre-placement shareholders overall interests will therefore be diluted by 8.6% following the placement.
The remainder of 25,100,000 shares were issued pursuant to Terrain's Listing Rule 7.1 capacity.
Further details of the approximate percentage of the issued capital post the Listing Rule 7.1 and 7.1A placement held by pre-placement registered holders are as follows:
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Post placement issued capital held by pre-placement registered holders who did not participate in the 7.1A placement
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91.4%
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Post placement issued capital held by pre-placement registered holders who did participate in the 7.1A placement
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0%
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Post placement issued capital held by participants in the 7.1A placement who were not registered holders at the time of the placement
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8.6%
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Terrain issued the shares by way of the Placement under ASX Listing Rule 7.1A and not by way of a pro-rata offer as it considers this to be the quickest, most efficient and most certain method for rasing funds in the circumstances.
The Placement was not underwritten but Australian stockbrokers have participated in placing the Shares to clients for which they will receive a fee of 6% of the funds contributed. Terrain has also incurred miscellaneous expenses including listing fees and legal fees in connection with the Placement.
For further information, contact:
Justin Virgin Executive Director
Terrain Minerals Limited
Email: [email protected] Tel: +61 8 9381 5558
| Terrain Minerals Limited | ASX:TMX | ABN 45 116 153 514 |
|Registered Office: S1, Ground Floor, 10 Ord Street, West Perth, WA, 6005|
|Mail: PO BOX 79, West Perth, WA, 6872|Ph: +61 8 9381 5558|www.terrainminerals.com.au|
About Terrain Minerals Limited:
Terrain Minerals Limited (ASX:TMX) is a minerals exploration company with a Western Australian based asset portfolio consisting of:
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Rembrandt (Au)- high grade gold project under option, drilling program to determine extent and tenor of mineralisation at high Monet Prospect currently underway;
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Gimlet (Ni-Cu)- 469km2 exploration licence located in the Fraser Range Province. Geophysical targets delineated, ground reconnaissance planned;
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Great Western (Au)- near term development opportunity, resource estimation and economic study process currently being conducted;
Through the combination of the three assets, Terrain has the potential of both near term cash flow and significant exploration upside.
| Terrain Minerals Limited | ASX:TMX | ABN 45 116 153 514 | 2
|Registered Office: S1, Ground Floor, 10 Ord Street, West Perth, WA, 6005|
|Mail: PO BOX 79, West Perth, WA, 6872|Ph: +61 8 9381 5558|www.terrainminerals.com.au|