HORSESHOE METALS TO RAISE UP TO $1.45M
• Horseshoe Metals have launched a Capital Raise to raise up to $1.45 Million.
• Capital Raise will include:
o Placement to raise up to $500,000 via the issue of up to 20M shares @ 2.5c per share plus up to 20m free attaching unlisted options.
o 1 for 5 Non-Renounceable Rights Issue to existing shareholders on same terms as Placement to raise up to $948,000.
• The free unlisted options will be split into 2 tranches. For every 2 new shares issued, holders to receive:
o 1 unlisted option exercisable at 3.5c, expiring 30 April 2016, and
o 1 unlisted option exercisable at 4.5c, expiring 30 September 2016.
• Conversion of options has potential to provide the Company an additional $2.31 Million in funds.
• Funds raised to be used in ongoing exploration and development at the Company’s Horseshoe Lights Project and for working capital purposes.
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