WFE (ASX) Ann: $1.0 Million Condition Placement Agreement Executed

Originally posted by apkjm ↑

Further to the announcement made to the ASX by Winmar Resources Ltd (ASX: WFE) (Winmar, the Company) on 20 March 2018, Winmar is pleased to announce that it has executed the agreements for the $1.0 million conditional private placement (Conditional Placement) of its fully paid ordinary shares made with Airguide International Pte Limited’s (Airguide) principals, subject to certain conditions.
The funds raised from the Conditional Placement of 200,000,000 ordinary shares (at an issue price of $0.005 per share) are additional to the $2.1 million raised by way of the private placement (Placement) announced on 20 March 2018 ($3.1 Million Funding Secured to Advance Cobalt Acquisition Strategy).
The Conditional Placement will proceed if shareholder approval is obtained and if the Company enters into a binding agreement to acquire exploration and /or mining licences in the Democratic Republic of Congo that are considered highly prospective for cobalt and with the capability to be advanced rapidly towards production, and on terms agreeable to both Winmar and Airguide.
Winmar and Airguide executives are currently in the DRC this week progressing the Company’s strategy and reviewing a number of potential acquisition opportunities which are at an early stage of assessment.
As previously advised, the Company will use funds raised from the Placement and the Conditional Placement (if undertaken) towards due diligence costs on potential new acquisitions and up-front payments on any new acquisitions made. The funds from the Placement will also be used for exploration costs incurred across the Company’s other projects and general working capital requirements.
Mr Rod Sainty
Managing Director
Winmar Resources Limited
Business Office
Level 10 , 418a Elizabeth Street SURRY HILLS NSW AUSTRALIA 2010

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The Conditional Placement will proceed if shareholder approval is obtained and if the Company enters into a binding agreement to acquire exploration and /or mining licences in the Democratic Republic of Congo that are considered highly prospective for cobalt and with the capability to be advanced rapidly towards production, and on terms agreeable to both Winmar and Airguide.
Winmar and Airguide executives are currently in the DRC this week progressing the Company’s strategy and reviewing a number of potential acquisition opportunities which are at an early stage of assessment.
Id call that another signal for those that have missed the first 10 since the 8th December 2017 !