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ASX Announcement & Media Release
1 November 2007
HALCYON RAISES $1.84M FOR COMMENCEMENT OF NICKEL
EXTRACTION SCOPING STUDY
Halcyon Group Ltd (ASX:HCY) is pleased to announce that it has raised a total of $1.84 million via a private placement to an
institutional investor, to help fund the Company’s Nickel Extraction Scoping Study, exploration programs and provide general
working capital.
The funds will be raised through:
1. an initial placement of 40 million shares at an issue price of 2.9 cents per share (on a pre-consolidation basis), to raise
gross proceeds of $1,160,000; and
2. subject to shareholder approval, a further placement of 2 million shares at an issue price of 34 cents per Share (on a postconsolidation
basis), together with 2 million free attaching 1 year options exercisable at 34 cents each, to raise gross
proceeds of $680,000;
Iggy Tan
Managing Director
from London