Heron Resources Limited (“
Heron”)
is pleased to announce that the share sale facility
(“
Facility”) established by Heron and undertaken
by Euroz Securities Limited to sell ineligible foreign
shareholders’ entitlement under the distribution of Ardea Resources
Limited (
Ardea) shares to Heron shareholders has
been successfully completed.[1]
Mr Taylor noted “We are delighted that the share sale facility
has been completed prior to the listing of Ardea as it contributes
to an orderly market. The take up of the sale facility shares
reflects the strong demand for the asset portfolio held by Ardea
and its prospects for the future.”
Foreign shareholders were entitled to 5,956,820 Ardea shares
under the distribution approved by Heron shareholders on 29
September 2016. Of these 1,593,831 shares were transferred to
foreign shareholders under the Facility who elected to receive
their entitlements and the balance (4,362,989 Ardea shares) were
sold for $0.20 per share.
The sale proceeds (less 1% brokerage fee for the value of the in
specie shares sold) will be paid within 30 days to each ineligible
foreign shareholder by:
(i) direct
credit to the intermediary holding the Heron shares on behalf of
the Heron shareholder; or
(ii) where the shares
are held directly, by cheque sent by mail to the ineligible foreign
shareholder’s address as shown on Heron’s share register.
A further announcement will be made to advise of the payment
date. Ineligible foreign shareholders are asked to update
their details with Heron’s share register. Neither Heron,
Ardea nor Euroz Securities Limited take any responsibility for the
payment to ineligible foreign shareholders.
Shareholders are reminded that all Ardea in specie shares plus
subscribed Ardea shares held three months after the 9 February 2017
listing date will qualify for a 1 for 3 bonus issue of Ardea
Loyalty Options.
[1] See Heron’s letter to foreign shareholders announced on ASX
on 2 December 2016 for further information.
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 Ardea, please visit www.ardearesources.com.au or www.heronresources.com.au or contact:
Dr Matt Painter
Managing Director, Ardea Resources Limited
Tel +61 8 6500 9200
Heron Australia
Mr Wayne Taylor
Managing Director and CEO Heron Resources Ltd
Tel: +61 2 9119 8111 or +61 8 6500 9200
Email: heron@heronresources.com.au
Heron Canada:
Tel: +1 647-862-1157 (Toronto)