Beadell Resources Limited (Beadell or Company) would like to inform that the closing date for the Share Purchase Plan (SPP) announced on 7 May 2018 will be extended for another week, from Monday, 25 June 2018 to Monday, 2 July 2018, in light of the recent positive announcement regarding a significant step forward in the Company’s turnaround strategy by moving to an experienced single mining contractor at Tucano Gold Mine and the impending closing of Tranche 2 of the capital raising in the next few days
The Company continues to receive application enquiries from shareholders and the extension will ensure that all eligible shareholders have ample time to submit their applications and are able to participate.
Under the SPP, Beadell is offering its shareholders the opportunity to subscribe for up to $15,000 in fully paid ordinary shares per eligible shareholder at the offer price of $0.07 per share without brokerage or transaction costs.
The Company is seeking to raise a maximum of $7 million from the SPP, subject to any discretionary scale back. If the Company receives applications in excess of $7 million, Beadell reserves absolute discretion to scale back applications under the SPP to the extent and in the manner that it sees fit. The issue price represents a discount of 16% to the volume weighted average price of Beadell shares over the five days before it requested a trading halt on 26 April 2018.
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