Heron confirms the completion of Castlelake Tranche 1 - Woodlawn Project financing
July 04 2017 - 8:16AM
Heron Resources Limited (ASX:HRR TSX:HER, “Heron” or the
“Company”) is pleased to announce that it has today
completed the first component of Tranche 1 of the Woodlawn Project
financing with the issue of 45,856,116 shares to Castlelake L.P.
As noted in the Company’s release of 30 June 2017, the
Cornerstone Investor Placement will occur in two tranches as
follows:
- The first tranche will consist of approximately 104 million
shares, with approximately 30 million shares allocated to
Greenstone, approximately 28 million shares to Orion, and
approximately 46 million shares to Castlelake.
- The second tranche will consist of approximately 1,372 million
shares, with approximately 571 million shares allocated to
Greenstone and its co-investment parties, approximately 380 million
shares to Orion, and approximately 421 million shares to
Castlelake.
The issue of shares to Greenstone and Orion under the first
tranche will occur contemporaneously with completion of the second
tranche unless either Greenstone and/or Orion elect to be issued
their respective shares under the first tranche earlier. The second
tranche is scheduled to settle on the same day as completion of the
Institutional Placement.
About Castlelake L.P.
Founded in 2005, Castlelake is a global private investment firm
that currently manages more than US$10.3 billion (as of 31 March
2017) in assets on behalf of more than 125 endowments, foundations,
public and private pension plans, private funds, family offices,
insurance companies and sovereign wealth funds.
About Heron Resources Limited
Heron is engaged in the exploration and development of base and
precious metal deposits in Australia. Heron’s primary development
project is the high-grade Woodlawn Zinc-Copper Project located
250km southwest of Sydney, New South Wales.
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:
Heron Resources
Mr Wayne Taylor
Managing Director and CEO Heron Resources Ltd
Tel: +61 2 9119 8111
Email: heron@heronresources.com.au
Heron (Canada)
Tel: +1 647-862-1157(Toronto)