Aguia Resources Limited: Share Purchase Plan Closes Oversubscribed
August 14, 2013 (Source: Aguia Resources Ltd.) — Aguia Resources Limited (ASX: AGR) (Aguia or Company) is pleased to announce that the Company’s share purchase plan (SPP) closed oversubscribed with a total of $680,000 in applications being received from shareholders.
In accordance with the terms and conditions of the SPP, the Company has undertaken a scaleback of selected applications, such that the maximum shares to be issued under the SPP will be 12,000,000 shares, for total subscriptions of $600,000.
The Company has reached agreement with Taylor Collison to undertake a placement of an additional 2,170,000 shares at $0.05 per share to clients of Taylor Collison to raise a further $108,500 (Placement).
The Company confirms that under ASX Listing Rule 7.1, approval by Aguia shareholders for the Placement is not required. The funds raised under the SPP and the Placement will be used to supplement the Company’s existing working capital and to provide funding for further testing of Aguia’s Rio Grande phosphate projects in Southern Brazil.
Aguia’s Managing Director, Mr. Simon Taylor said: “We are delighted at the vote of confidence displayed by existing shareholders in the Company resulting in an oversubscription of the share purchase plan. This success, along with the recent share placements, highlights the enthusiastic support the Company receives for its exploration programs that continue to deliver solid results”.
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