ENP Newswire - 26 August 2014
Release date- 25082014 - Viking Mines Limited (ASX code: 'VKA') is pleased to announce that the minimum subscription for its current Prospectus offering of Viking shares and options has been exceeded.
Under its Prospectus dated 18 August 2014 the Company is seeking to raise up to $3,040,000 by the issue of up to 80,000,000 shares at an issue price of $0.038 with 1 option for every 4 shares subscribed for. The options are exercisable at $0.09 at any time on or before 30 April 2017. The minimum subscription level nominated in the Prospectus was $2,090,000.
The Offer is expected to close at 5pm (WST) on Friday, 29 August 2014 and the Company expects further acceptances to be received before then. Advisors to the Company in this matter are Emerald Partners Limited (Emerald) and Inteq Limited.
Viking is a Perth-based ASX listed company with gold exploration projects in Ghana in West Africa. It has received in excess of 97% acceptances for its takeover offer of the coal developer Auminco Mines Limited (Auminco).
The proceeds from the Prospectus will be used to complete the Auminco takeover, to fund exploration and development of its gold and coal assets and for general working capital purposes.
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Forward Looking Statements
This document may include forward looking statements. Forward looking statements may include, but are not limited to statements concerning Viking Mines Limited's planned exploration programs and other statements that are not historical facts. When used in this document, words such as 'could', 'plan', 'estimate', 'expect', 'intend', 'may', 'potential', 'should', and similar expressions are forward looking statements.
Although Viking Mines Limited believes that its expectations reflected in these forward looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward looking statements.