Revised Timetable for Notice of Meeting and Recompliance
Sydney, July 16, 2018 AEST (ABN Newswire) - As reported in the announcement released by Queensland Bauxite Limited (
ASX:QBL) (or "the Company") on 13th July 2018, the Notice of Meeting for the recompliance transactions is still being drafted and is yet to be reviewed by the ASX. The following table is the timeline to which the Company is currently working towards for the completion of the transactions and the recompliance requirements.
Indicative Timetable ----------------------------------------------------------------------ACTIVITY DATE ---------------------------------------------------------------------- Dispatch of notice of meeting seeking QBL shareholder approval 14 August 2018 Lodgment of Prospectus by QBL 29 August 2018 QBL shareholder meeting 14 September 2018 Closing date of Prospectus offer 21 September 2018 Completion of Medcan/MCL acquisitions 3 October 2018Expected date for reinstatement to official quotation of QBL on ASX 10 October 2018 ----------------------------------------------------------------------
The above table is an indication only and is subject to change. Shareholders should also note that the Company's securities will be suspended from the date of the general meeting of shareholders until such time as the Company has satisfied Chapters 1 and 2 of the ASX Listing Rules and is reinstated to official quotation on the ASX. This is usually a process that can take on average approximately 4 weeks to complete.
The Board looks forward to progressing these significant transactions on behalf of QBL. Meanwhile the MCL business is moving full steam ahead.
About Queensland Bauxite Ltd
Queensland Bauxite Limited (ASX:QBL) is an Australian listed company focused on the exploration and development of its bauxite tenements in Queensland and New South Wales. The Company's lead project is the South Johnstone Bauxite Deposit in northern Queensland which has rail running through the project area and is approximately 15-24 kilometres from the nearest deep water port. The Company intends to become a bauxite producer with a focus on commencing production at South Johnstone as early as possible. The Company also pursues additional investment opportunities, and has agreed to acquire a 100% shareholding in Medical Cannabis Limited, an Australian leader in the hemp and Cannabis industries, and a 100% shareholding in Medcan Australia Pty Ltd, a company with an ODC cultivation and production License and a DA approved Cannabis production and manufacturing facility.
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