Heron spin-off – Ardea Resources Limited Demerger Update
December 23 2016 - 8:02AM
Heron Resources Limited (“Heron”) provides an
update on the Ardea Resources Limited (Ardea)
de-merger, as disclosed in the prospectus (“Prospectus”) lodged
with the Australian Securities and Investments Commission on 9
November 2016 and Supplementary Prospectus lodged 18 November
2016.
To allow Ardea an opportunity to raise further funds Ardea’s
Board has resolved to extend the public offer under the
Prospectus.
- Ardea has received applications and firm commitments exceeding
the $3.5 million Minimum Amount to be Raised.
- The Directors of Ardea have extended the Offer Closing Date to
20 January 2017, reflecting a quiet capital raising sector due to
the current holiday season:
- OnMarket Bookbuilds has been retained to assist with finalizing
the capital raising, particularly geared to their clients seeking
cobalt exposure.
- Investor feedback has focussed on Ardea’s cobalt potential
within the KNP and the bulk mining potential of the Lewis Ponds
project.
- ASIC has approved the Sale Facility
Updated timetable as follows:
Closing Date |
20 January 2017 |
Issue of holding
statements to both eligible Heron shareholders under the
distribution and applicants under the Prospectus |
2 February 2017 |
Commencement of trading
of Ardea Shares on ASX |
9 February 2017 |
The above timetable is indicative and may change, subject to the
Corporations Act and Listing Rules. In particular, Ardea may
elect to close the Offer early, and for that reason investors are
urged to lodge their application for Ardea Shares without
delay.
Ardea Share Applications:
A copy of the Prospectus and Second Supplementary Prospectus is
available at www.ardearesources.com.au. Anyone considering
investing should read the Prospectus in its entirety before
deciding whether to invest. Applications can only be made via
the application form which is in or accompanies the Prospectus.
Please contact Ardea’s company secretary Mr Sam Middlemas on +61
8 6500 9200 to request a copy of the Prospectus.
For further information regarding Ardea and its
projects, please visit www.ardearesources.com.au or
contact:
Dr Matt Painter
Ardea Managing Director
Tel +61 8 6500 9200
CAUTIONARY NOTE REGARDING FORWARD-LOOKING
INFORMATION
This report contains forward-looking statements and
forward-looking information within the meaning of applicable
Canadian securities laws, which are based on expectations,
estimates and projections as of the date of this report. This
forward-looking information includes, or may be based upon, without
limitation, estimates, forecasts and statements as to management’s
expectations with respect to, among other things, the timing and
amount of funding required to execute the Company’s exploration,
development and business plans, capital and exploration
expenditures, the effect on the Company of any changes to existing
legislation or policy, government regulation of mining operations,
the length of time required to obtain permits, certifications and
approvals, the success of exploration, development and mining
activities, the geology of the Company’s properties, environmental
risks, the availability of labour, the focus of the Company in the
future, demand and market outlook for precious metals and the
prices thereof, progress in development of mineral properties, the
Company’s ability to raise funding privately or on a public market
in the future, the Company’s future growth, results of operations,
performance, and business prospects and opportunities. Wherever
possible, words such as “anticipate”, “believe”, “expect”,
“intend”, “may” and similar expressions have been used to identify
such forward-looking information. Forward-looking information is
based on the opinions and estimates of management at the date the
information is given, and on information available to management at
such time. Forward-looking information involves significant risks,
uncertainties, assumptions and other factors that could cause
actual results, performance or achievements to differ materially
from the results discussed or implied in the forward-looking
information. These factors, including, but not limited to,
fluctuations in currency markets, fluctuations in commodity prices,
the ability of the Company to access sufficient capital on
favourable terms or at all, changes in national and local
government legislation, taxation, controls, regulations, political
or economic developments in Canada, Australia or other countries in
which the Company does business or may carry on business in the
future, operational or technical difficulties in connection with
exploration or development activities, employee relations, the
speculative nature of mineral exploration and development,
obtaining necessary licenses and permits, diminishing quantities
and grades of mineral reserves, contests over title to properties,
especially title to undeveloped properties, the inherent risks
involved in the exploration and development of mineral properties,
the uncertainties involved in interpreting drill results and other
geological data, environmental hazards, industrial accidents,
unusual or unexpected formations, pressures, cave-ins and flooding,
limitations of insurance coverage and the possibility of project
cost overruns or unanticipated costs and expenses, and should be
considered carefully. Many of these uncertainties and contingencies
can affect the Company’s actual results and could cause actual
results to differ materially from those expressed or implied in any
forward-looking statements made by, or on behalf of, the Company.
Prospective investors should not place undue reliance on any
forward-looking information. Although the forward-looking
information contained in this report is based upon what management
believes, or believed at the time, to be reasonable assumptions,
the Company cannot assure prospective purchasers that actual
results will be consistent with such forward-looking information,
as there may be other factors that cause results not to be as
anticipated, estimated or intended, and neither the Company nor any
other person assumes responsibility for the accuracy and
completeness of any such forward-looking information. The Company
does not undertake, and assumes no obligation, to update or revise
any such forward-looking statements or forward-looking information
contained herein to reflect new events or circumstances, except as
may be required by law. No stock exchange, regulation
services provider, securities commission or other regulatory
authority has approved or disapproved the information contained in
this report.
For further information regarding Heron, please visit www.heronresources.com.au or contact:
Australia:
Mr Wayne Taylor
Managing Director and Chief Executive Officer
Tel: +61 2 9119 8111 or +61 8 6500 9200
Email: heron@heronresources.com.au
Canada:
Tel: +1 647-862-1157 (Toronto)