ENP Newswire -
Release date- 13052014 -
The SPP will be priced at
PURPOSE OF THE CAPITAL RAISING
Proceeds of the SPP and Placement will be applied to advancing exploration on the Company's 100%-owned Eclipse copper-gold prospect and the broader
The SPP and Placement follows a successful drill campaign at the Eclipse Prospect, which resulted in the discovery of significant gold and copper mineralization only 30 metres from surface. This mineralization is believed to be associated with a deeper porphyry source. A recent geophysical survey has highlighted undrilled targets beneath the mineralization. A drill program to test the deeper copper and gold potential of the Eclipse prospect is planned to commence in
SHARE PURCHASE PLAN
In recognition of the support of the Company's existing shareholders, Navarre is conducting a SPP to give its eligible shareholders the opportunity to each acquire up to a maximum of
The right to participate in the SPP is available to shareholders who were registered as holders of Navarre shares at
Shareholders should be aware that there is a risk that the market price of Navarre shares may change between the date of this announcement and the date when the New Shares are issued under the SPP. The SPP is not underwritten. The directors of Navarre who are eligible to participate intend to apply for their maximum allocation of New Shares under the SPP.
The complete terms and conditions of the SPP will be mailed to all Eligible Shareholders on or about the date specified below. Participation in the SPP is entirely voluntary. Shareholders are urged to read the SPP terms and conditions in their entirety before deciding whether to participate in the SPP and, if in doubt, to seek advice from their stockbroker, accountant, solicitor or other professional advisor.
The Company has agreed to issue 4,615,384 million fully paid ordinary shares in the Company to a subsidiary of
Tel: +61 (0)3 5358 8625
This announcement contains 'forward-looking statements' within the meaning of securities laws of applicable jurisdictions. Forward looking statements can generally be identified by the use of forward-looking words such as 'may', 'will', 'expect', 'intend', 'plan', 'estimate', 'anticipate', 'believe', 'continue', 'objectives', 'outlook', 'guidance' or other similar words, and include statements regarding certain plans, strategies and objectives of management and expected financial performance.
These forward-looking statements involve known and unknown risks, uncertainties and other factors, many of which are outside the control of Navarre and any of its officers, employees, agents or associates. Actual results, performance or achievements may vary materially from any projections and forward-looking statements and the assumptions on which those statements are based. Exploration potential is conceptual in nature, there has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource. Readers are cautioned not to place undue reliance on forward-looking statements and Navarre assumes no obligation to update such information.
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