I'm not sure but HC emailed this to me at 6:19 pm last night, maybe they got a please explain.
RETRACT - Brand new ASX story that can deliver a +20x return in 12 months.
An email advertisement was sent to you on or about 30 March 2016 (the Advertisement) containing details on Sky and Space Global (UK) Limited (SSG). SSG and Burleson Energy Ltd ACN 117 770 475(Company) have entered into an agreement pursuant to which the Company will acquire all of the issued shares of SSG subject to certain terms and conditions. There is currently a public offering of securities (Offer) under a Prospectus issued by the Company dated 22 March 2016 (Prospectus), supplemented by a Supplementary Prospectus issued by the Company on 30 March 2016, open. The Advertisement did not state specific details in respect to the Offer, and in particular:
1. The Advertisement did not contain a statement that the offer of securities is made in, or accompanied by, a copy of the disclosure document and that you should consider the disclosure document in deciding whether to acquire the securities under the Offer nor did it advise where the disclosure document is available and where it can be obtained.
2. The subject title and headline of the Advertisement, "+20x return in 12 months, based on peer valuations" is misleading as the Directors of the Company (as stated that in the Prospectus) do not believe they have a reasonable basis to forecast future earnings on the basis that the operations of the Company are inherently uncertain.
3. The Advertisement does not contain information that has been given prominence in the Prospectus, in particular that Sky & Space Global (UK) Limited has a limited operating history and is not currently generating revenue, and may not successfully develop or commercialise the SSG technology detailed in the Prospectus.
Disclaimer
The Offer is only made through the Prospectus, Supplementary Prospectus dated 30 March 2016, and any further supplementary or replacement disclosure issued by the Company, which you should consider in deciding whether to apply for securities. To apply, you need to complete the application form in or with the Prospectus. The Prospectus, Supplementary Prospectus and any further supplementary or replacement disclosure issued by the Company may be obtained at the Company’s website www.burlesonenergyltd.com.
BUR Price at posting:
0.4¢ Sentiment: None Disclosure: Not Held
