NO THANKS
SHAREHOLDER ENTITLEMENT ISSUE
NuPower Resources Limited (“NuPower” or “the Company”), a Northern
Territory focused phosphate exploration company, is pleased to offer to
shareholders a non renounceable pro rata entitlements offer of new ordinary
shares priced at 1.6 cents per share.
Under the entitlement offer, shareholders will be offered one (1) new share
for every four (4) shares held at the record date of 7 November 2012. Under
the terms of this issue, 127,955,776 shares will be available for subscription
by existing NuPower shareholders and will raise $2.04 million before costs.
The entitlements offer is not underwritten
NuPower Chairman Mr Robert Owen commented, “At the commencement
of 2011, NuPower redirected its focus entirely to its portfolio of Phosphate
projects. Since that time NuPower has defined a 310 million tonne inferred
Phosphate Resource grading at 15% P2O5 using a 10% cut off at our 100%
owned Arganara Phosphate Prospect in the Northern Territory. In addition,
Nupower has also identified a 27 kilometer long zone of phosphate
mineralisation containing numerous high grade drill intersections.
This firmly places Arganara as a world class phosphate development
opportunity. The project is well located, adjacent to both major outback road
infrastructure and the Darwin to Alice Springs rail line. Use of funds from this
entitlement offer will be used primarily for further development of the
Arganara project.”
The Board of NuPower strongly encourages eligible shareholders to take up
this entitlement offer, as it provides an opportunity to take advantage of
prevailing market conditions and to participate in the future of the Company.
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