Extract Resources completes A$40.3 million private placement
/NOT FOR DISSEMINATION IN THE UNITED STATES OR TO UNITED STATES NEWSWIRE SERVICES./
SOUTH
The underwriters, BMO Nesbitt Burns Inc. and Haywood Securities Inc. ("Underwriters"), have placed 5.2 million Special Warrants at a price of A$7.75 per Special Warrant. The Underwriters provided notice that the escrow release conditions relating to the Placement had been satisfied. Proceeds of the Placement were provided to Extract.
Each Special Warrant entitles the holder to acquire one ordinary share (an "Ordinary Share") of Extract for no further consideration. Each Special Warrant will be automatically exercised for no additional consideration into one Share on a one-for-one basis at
The Special Warrants are subject to resale restrictions in
About Extract
Extract Resources is an Australian-based uranium exploration company whose primary focus is in the African nation of
IMPORTANT INFORMATION
This press release is not an offer to sell, or a solicitation of an offer to buy, any securities. The securities referred to in this press release have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the
Certain statements in this press release constitute "forward looking information" (as defined in applicable Canadian securities legislation) that is based on expectations, estimates and projections as of the date of this press release. These statements are subject to risks and uncertainties. The Company has no intention to update this forward looking information, except as required by applicable securities law. This forward looking information should not be relied upon as representing the views as of the Company at any date subsequent to the date of this press release. There can be no assurance that forward looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information.
For further information: Rance Dorrington, Company Secretary, Tel +61 (08) 9367 2111
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