News Column

Newera Resources Limited - Funding Update

May 14, 2014

ENP Newswire - 14 May 2014

Release date- 13052014 - Newera Resources Limited (ASX: NRU) is pleased to announce that it has successfully agreed terms under a Capital Raising Mandate with Cygnet Capital, for a placement to sophisticated investors to initially raise $100,000.

50,000,000 shares will be placed to the investors at an issue price of $0.002 per share to raise a total of $100,000. Further, in the coming weeks, the Company intends to make an offer to all shareholders by way of an entitlement issue. Whilst the detailed terms of the entitlement issue are currently under development it is intended that the terms of the entitlement issue offer be no less favourable to shareholders than the terms of the aforementioned placement ($0.002 per share). Full details, including the timetable, will be made available in due course.

Under the terms of the Capital Raising Mandate, the entitlement issue is to be underwritten by Cygnet Capital. The Company also notes that this capital raising acts to set the conversion price under the terms of its existing convertible notes on issue at $0.0016.

The Company expects to issue the placement shares shortly, using the Company's available capacity under ASX Listing Rules 7.1 & 7.1A, to sophisticated investors under sections 708(8), 708(10) and 708(11) of the Corporations Act 2001 (Cth) (the Act), without disclosure to investors under Part 6D.2 of the Act. The funds will be used for working capital purposes.


Martin Blakeman

Executive Chairman

Newera Resources Limited

Tel: (08) 9389 3100

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Source: ENP Newswire

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