Ann: Oversubscribed Share Purchase Plan raises $15 million, page-2

Oversubscribed Share Purchase Plan raises $15 million

Highlights
* Oversubscribed Share Purchase Plan raises a further $15M adding to the $30M received under a Placement conducted earlier in the month made to institutional and professional/sophisticated investors.
* The amount raised under the Share Purchase Plan signals strong support of the Company by existing shareholders as it moves the Great White Kaolin Project through final feasibility studies and towards production
* The combined proceeds received from the Share Purchase Plan and Placement will be used to complete final studies for the Project, fund long lead capital items, undertake further product development and meet ongoing working capital requirements.