| Results of Share Purchase Plan | |
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Adelaide Resources received valid application monies from Shareholders of $646,500 pursuant to the Share Purchase Plan (Plan) announced to the ASX on 24 September 2015.
The Plan was underwritten to an amount of $900,000 and the shortfall from the issue has been placed in accordance with the terms of the underwriting agreement between the Company and Patersons Securities Limited.
In addition, the Company will complete a modest Top-Up Placement of approximately $22,000 on the same terms as the New Shares issued under the Plan.
The issue price for the New Shares issued under the Plan and Top-Up Placmeent is $0.02 (representing a 20% discount to the volume weighted average price of ADN's shares traded on the ASX over the last 5 days on which sales in the shares were recorded immediately prior to the issue date of the New Shares under the Plan) with a total of 46,376,667 New Shares issued.
The funds raised under the Plan will be directed principally to advancing the exploration effort on the wholly owned Drummond and Eyre Peninsula gold projects.
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Results of Share Purchase Plan
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VanEck Vectors Global Alternative Energy ETF
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DEVELOPMENT STAGE |
CODE : ADN.AX |
ISIN : AU000000ADN0 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Adelaide Res. is a gold and copper exploration company based in Australia. Adelaide Res. develops gold, copper and zircon in Australia, and holds various exploration projects in Australia. Its main asset in development is TRIPITAKA in Australia and its main exploration properties are ROVER PROJECT, MOONTA, SOUTH MOUNT WOODS and COLONA JV in Australia. Adelaide Res. is listed in Australia and in Germany. Its market capitalisation is 379 538 as of today (US$ 254 518, € 234 971). Its stock quote reached its highest recent level on December 31, 1996 at 4.52, and its lowest recent point on May 10, 2019 at 0.01. Adelaide Res. has 47 442 200 shares outstanding. |