Microsoft Word - SPI ASX Release White Lion Completion v1.doc
MEDIA/ASX RELEASE
19th AUGUST 2015
COMPLETION OF ACQUISTION OF ZAMBIAN LIMESTONE PROJECT
Spitfire Resources Limited ("Spitfire" or the "Company ") is pleased to advise that following approval by shareholders at the General Meeting held on 17th August 2015 it has completed the acquisition of the White Lion project.
Spitfire has issued the following securities to the vendor which are subject to a 12 month restriction agreement from the date of issue:‐
a) 216,718,266 fully paid ordinary shares
b) 100 performance shares (which convert upon achieving the relevant milestones into that number of shares which equates to a value of A$4,200,000 on the terms approved at the General Meeting of shareholders held on 17th August 2015).
Spitfire currently has 471,831,740 ordinary shares on issue.
Spitfire's Chairman, James Hamilton, said the overwhelming support by shareholders for the White Lion project acquisition was assuring. "We've been encouraged by the fact that so many of our shareholders, both big and small, have voted in favour of this change in direction," Hamilton said. "We are now moving to expedite the phase one sampling program at the White Lion project in Zambia immediately."
For further information contact: James Hamilton
Executive Chairman
Spitfire Resources Limited
Email: [email protected]
Spitfire Resources Limited | ABN 40 125 578 743
Australia | 41 York St, Subiaco WA 6008 | PO Box 8050, Subiaco East WA 6008
Tel +61 (0)8 6382 3700 | Fax +61 (0)8 6382 3777
www.spitfireresources.com