SPECIAL BUSINESS
Resolution 3(a) and 3(b) – Approval to Issue MGI Consideration Shares or MGI Consideration Amount
To consider and, if thought fit, pass the following resolutions as separate ordinary resolutions:
Resolution 3(a):
That, subject to Completion of the Adidi-Kanga Gold Project Acquisition occurring, for the purposes of Listing Rule 7.1 and for all other purposes, Shareholders approve a total of US$5,000,000 of Shares to be issued to Mongbwalu Goldfields Investments Limited (Co Registration Number: 133304) (MGI), or the parties as advised by MGI, as consideration under the Sale Agreement at an issue price of A$0.022 (MGI Consideration Shares), on the terms and conditions set out in the Explanatory Statement.
Resolution 3(b):
That, subject to Completion of the Adidi-Kanga Gold Project Acquisition occurring, for the purposes of Listing Rule 7.1 and for all other purposes, Shareholders approve a total of US$5,000,000 of Shares to be issued to private investors to raise cash to fund the consideration due to MGI at a price of no less than A$0.022 (MGI Consideration Amount) on the terms and conditions set out in the Explanatory Statement.
Note: The Company is seeking Shareholder approval for both Resolutions 3(a) and 3(b), however, Shares will only be issued under one of these Resolutions. That is, if the Company issue the Shares to MGI under Resolution 3(a), it will not issue the Shares under Resolution 3(b) AND alternatively if the Company issue the Shares to private investors under Resolution 3(b), it will not issue shares to MGI under Resolution 3(b).
So we wait for the AGM announcement to see what way we are going
