Prospectus share offer opens
Perth, May 19, 2017 AEST (ABN Newswire) - Catalyst Metals Limited (Catalyst or the Company) (
ASX:CYL) lodged a prospectus with the Australian Securities and Investments Commission on 5 May 2017 for a proposed capital raising of up to $1.5 million through the issue of 3 million ordinary fully paid shares at an issue price of 50 cents per share.
- Prospectus share offer for capital raising of $1.5 million opens today
- Prospectus offer available to both Catalyst shareholders and the general public
The offer made under the prospectus opens today, 19 May 2017, and will close at 5:00 pm (Perth time) on 31 August 2017 (unless extended or closed earlier).
Catalyst advises that a copy of the prospectus has been despatched to existing eligible shareholders of the Company. There are no "entitlements" under the offer and eligible shareholders and investors may apply for any amount of shares under the offer, but applications must be for a minimum of $500 and applications may be scaled back at the discretion of the Directors.
The prospectus is also available on the Raisemetrex Pty Ltd web-site (http://www.raisemetrex.com.au).
Investors should consider the prospectus in deciding whether to acquire shares and any investor who wishes to acquire shares will need to complete an application form that will accompany the prospectus (available electronically through the Raisemetrex web-site or in paper form on request to the Company by email at admin@catalystmetals.com.au or by telephone on (+61-8-6263-4423).
Funds raised from the offer will be used for future exploration and evaluation activities on Catalyst's mineral tenement interests, including the Four Eagles and Tandarra Gold Projects, the possible investigation of additional resources investment opportunities and for general working capital requirements.
About Catalyst Metals Ltd
Catalyst Metals Limited (ASX:CYL) is an Australian public company which is listed on the Australian Securities Exchange (Trading code CYL).
Catalyst has established a dominant position in one of the best gold provinces in Australia and controls a strike length of almost 80 kilometres along the Whitelaw Gold Belt north of Bendigo in Victoria. The Whitelaw Fault is believed to be an important factor in the formation of the Bendigo goldfield which was the second largest gold producer in Australia with production of 22 million ounces of gold at a grade of 15 g/t Au. Catalyst controls two virgin gold discoveries at Four Eagles and Tandarra where high gold grades up to 100 g/t Au have been discovered at shallow depths of less than 50 metres. A transaction with Gold Exploration Victoria Pty Ltd (a subsidiary of Hancock Prospecting Pty Ltd) will see up to $4.2 million spent on Four Eagles in coming years as well as co-operation with Catalyst on other gold projects in a large designated area.
Catalyst has a tight capital structure, a strong Board and management and is well placed to increase shareholder value by developing and mining shallow gold deposits using the favourable infrastructure of the area. Six existing gold processing plants lie within 100 kilometres of the tenement areas.
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