hey who ever you are are a market gurus trumpeting your concern...

First 4 Last

Share
Profile

Follow
igarcia1055

97 Posts.

28/10/14

08:01

Post #: 14190444
Share

Originally posted by 67shelby ↑

From the announcement on 20/10/2014

Capital Raising
As previously announced the Company will undertake a capital raising between $3.5 million and $6 million before costs pursuant to a prospectus is contemplated as part of the transaction. The minimum raising of $3.5 million will be arranged on a best endeavours basis by Novus Capital Ltd. Novus have confirmed their full support to the Board for the acquisition and financing of this project. Existing shareholders will be given the priority right to top up their shareholdings ($2,000 per shareholder) pursuant to the prospectus

Consolidation of Capital
As part of the transaction, and subject to the approval of shareholders, the Company will undertake a consolidation of its capital at a ratio of around 67:1 to meet ASX Listing Rule requirements.

Change of Activities
The Company’s proposed acquisition of Balama and its Diamond Licence acquisitions through Sese Diamonds Pty Ltd (“Sese”) and Save River Diamonds Pty Ltd (“Save”) will result in a change in the Company’s nature and scale of activities, and require shareholder approval under Chapter 11 of the ASX Listing Rules as well as requiring the Company to re-comply with Chapters 1 and 2 of the ASX Listing Rules. The Company will despatch to shareholders as soon as practicable a notice of meeting seeking the relevant approvals to undertake this process, with such notice of meeting to contain detailed information relating to the acquisition of Balama, SRD and Sese, including independent experts’ reports on the transactions.

Change of Name
It will be proposed that the Company changes its name to reflect the proposed principal focus on diamond & graphite exploration and mining.

Expand

hey who ever you are are a market gurus trumpeting your concern on this site shoooooooooooooooo

OGI Price at posting: 1.2¢ Sentiment: None Disclosure: Unspecified
Upvote

0 Great analysis

Reply

Top Stories

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

RGS

Riversgold notes strong intercepts at Northern Zone in AC campaign

MIN

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

ACW

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

WC8

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

There are more pages in this discussion • 37 more messages in this thread...

First 4 Last

Add OGI (ASX) to my watchlist

hey who ever you are are a market gurus trumpeting your concern...

Top Stories

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

Riversgold notes strong intercepts at Northern Zone in AC campaign

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects