AKK 0.00% 0.3¢ austin exploration limited

austin increases capital raising through place

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    ASX ANNOUNCEMENT 31 January 2012
    For Immediate Release
    The Manager
    Companies Announcements Officer
    Australian Stock Exchange
    Electronic Lodgement
    ASX ANNOUNCEMENT 31 January 2012
    For Immediate Release
    The Manager
    Companies Announcements Officer
    Australian Stock Exchange
    Electronic Lodgement
    AUSTIN INCREASES CAPITAL RAISING THROUGH PLACEMENT
    DUE TO DEMAND
    Dear Sir/Madam,
    The Board of Austin Exploration Limited (Austin) (ASX: "AKK") is pleased to announce that the share
    placement to new and current sophisticated investors which was initially for 40,000,000 ordinary
    shares at 2.7 cents per share, together with 40,000,000 I Class listed options exercisable at $0.055
    cents expiring on 10 July 2013 has been increased to 44,000,000 ordinary shares at 2.7 cents
    together with attaching option to raise $1,188,000 before costs. This new capital will be used for
    ongoing and further exploration in the USA.
    Listing of the shares on ASX will be sought once monies have been received and cleared at bank.
    The Company confirms that shareholder approval will not be sought and the increased issue still falls
    under the Company’s 15% capacity pursuant to Listing Rule 7.1
    On behalf of the Board
    Dear Sir/Madam,
    The Board of Austin Exploration Limited (Austin) (ASX: "AKK") is pleased to announce that the share
    placement to new and current sophisticated investors which was initially for 40,000,000 ordinary
    shares at 2.7 cents per share, together with 40,000,000 I Class listed options exercisable at $0.055
    cents expiring on 10 July 2013 has been increased to 44,000,000 ordinary shares at 2.7 cents
    together with attaching option to raise $1,188,000 before costs. This new capital will be used for
    ongoing and further exploration in the USA.
    Listing of the shares on ASX will be sought once monies have been received and cleared at bank.
    The Company confirms that shareholder approval will not be sought and the increased issue still falls
    under the Company’s 15% capacity pursuant to Listing Rule 7.1
    On behalf of the Board
 
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