News and Announcements
Intermin Resources (ASX: IRC) Adds $1.11m to its Cash Position from Options Exercised
- Published July 04, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Intermin Resources Limited (ASX: IRC) is pleased to advise that today it has completed the issue of 8,044,968 fully paid ordinary shares after receiving final option exercise forms and payments totalling $603,373.
KEY TAKEAWAYS:
- The new shares relate to options, exercisable at 7.5¢ and expiring on 30 June 2017, issued as part of a non-renounceable entitlement offer in July 2015.
- A total of 14,819,669 or 76.1% of these options were exercised by holders adding $1,111,475 to the Company’s cash reserves.
- The balance lapsed on 30 June 2017.
The Company’s capital structure following the exercise of the listed options is now as follows:
Listed Shares 218,412,952 Fully Paid Ordinary
Listed Options 23,674,747 (IRCOA) Exercise Price $0.17, Expiry 31 August 2018
Unlisted Options 1,750,000 (IRCAI) Exercise Price $0.125, Expiry 31 July 2018
Unlisted Options 5,000,000 (IRCAI) Exercise Price $0.075, Expiry 31 July 2018
Commenting on the option exercise, Intermin Managing Director Jon Price said:
“We thank holders for their continued support which, together with ongoing cash flow from our Teal Gold Mine, places the Company in a strong financial position to deliver on its strategy of self-funding future mine developments, consolidating assets in the Western Australian Goldfields, growing our existing Resource base and continuing the search for the next new gold discovery,” An ASX Appendix 3B Application for Quotation of Additional Securities is attached in relation to the final securities issued.
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