uranium announcement

TO: COMPANY ANNOUNCEMENTS OFFICE
ASX LIMITED
DATE: 10 JULY 2009
PROPOSED PRO-RATA OFFER OF SHARES IN CAM BOW TO CARDIA
SHAREHOLDERS
The Board of Cardia Bioplastics Limited wishes to announce a non-renounceable offer
of shares in Cam Bow Pty Ltd (currently in the process of changing its status to Cam
Bow Limited) to existing Cardia Shareholders on the basis of 1 Cam Bow share for
every 5 shares held in Cardia at 1.5 cents per share.
In April 2009 Cardia announced that it planned to transfer all the issued capital of its
wholly owned Botswana subsidiary Cam Bow Holdings (Pty) Ltd to an Australian
based subsidiary. The subsidiary acquired was Cam Bow Pty Ltd,not Rio Minerals Pty
Ltd as previously advised.
Cam Bow Holdings (Pty) Ltd holds eleven licences to prospect for base, precious and
radioactive minerals in Botswana.
The Company also announced at the same time that it was considering a funding
program for further exploration work on the licences should preliminary ground
survey work produce promising results.
Cardia’s existing cash resources will however be focussed on the development of its
bioplastics business and to enable the acceleration of a planned exploration program
on the Botswana licences will require additional funding.
To obtain these funds, and in line with Cardia’s strategy of developing start up
businesses and offering shareholders the opportunity to participate, the Company
proposes to make a non-renounceable entitlements issue of ordinary shares in Cam
Bow to Cardia Shareholders on the following basis :-
1. Up to 123,227,318 fully paid ordinary shares on the basis of 1 Cam Bow Share for
every 5 shares held in Cardia.
2. The issue price of the shares will be $0.015 (1.5 cents) per share.
3. The issue will raise approx $ 1,848,410.
4. The funds raised will be used for further exploration work on the Company’s
uranium prospecting licences in Botswana and for general working capital
purposes.
The offer will be made via an Offer Information Statement which is currently being
prepared, and will be fully underwritten by Trayburn Pty Ltd, a Company associated
with Pat Volpe, a director of Cardia, for a 5% underwriting fee which will be
approximately $92,420 to be paid in cash or shares to an equivalent value.
Pat Volpe
Chairman