re: Ann: Verus secures AUD$10 million equity ... Verus secures...

re: Ann: Verus secures AUD$10 million equity ... Verus secures AUD$10 million financing facility
Verus Investments Limited (Verus) is pleased to announce that it has entered into a terms sheet
to secure a A$10,000,000 equity drawdown facility with Truestone Capital Specialised
Investment Fund (Truestone), a London-based investment company.
The facility will assist in financing the continued exploration and development of the Companys
oil and gas assets, in addition to the potential acquisition of high impact low risk opportunities.
Subject to terms and conditions of the drawdown facility, Verus may, at its election, issue shares
for purchase by Truestone at any time during the next 12 months. Shares issued to Truestone will
be priced at 85% of the lowest of the daily volume weighted average price (VWAP) of the
Securities as quoted by Bloomberg during the prior five consecutive trading day period.
The drawdown facility is subject to completion of satisfactory due diligence of both Verus and
Truestone Capital.
Verus Chairman Andrew McIlwain said the drawdown facility would enhance the Companys
financial flexibility.
This $10 million facility allows us to move forward with our plans at Fausse Point and look to
further project involvement and acquisition whilst still giving us the discretion to decide when we
issue the shares. Importantly, we can restrict the drawdown amounts and timing to ensure we
issue at the highest possible price, thereby minimising shareholder dilution, he said.
This facility is not exclusive, it keeps our options open, and importantly provides a backstop to
future financing. We are still free to consider all means of underpinning Verus future.
Fausse Point will be coming into production within weeks and we are keen to be able to provide
some cash flow forecasts following the recommencement of testing of our #1 Well.
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Acquisition of additional Fausse Point 3 D seismic data for re processing and reinterpretation will provide Verus with an improved understanding of the #1 Well, the overall structure extent and the new regional plays potential.
Yours faithfully
Andrew McIlwain
Chairman