Share Purchase Plan
Melbourne, July 10, 2019 AEST (ABN Newswire) - On 3 July 2019, Nova Minerals Ltd (
ASX:NVA) (QM3:FRA) announced that it would be undertaking a share purchase plan (Plan or SPP) to raise up to $1,000,000 before costs, with an option for the Company to accept oversubscriptions, on the terms and conditions contained in this letter and the enclosed document (Terms and Conditions) (Offer).
This SPP is in addition to the recently announced placement of 25 million fully paid ordinary shares in Nova (Shares) to professional and sophisticated investors, raising $500,000 (Placement).
Nova is now pleased to provide details of the SPP. Under the Plan, Nova is giving Eligible Shareholders (defined below) the opportunity to purchase up to $15,000 worth of Shares at an issue price of $0.02 per Share, being the same price as the Placement, irrespective of the size of their shareholding, without incurring brokerage or transaction costs.
Shareholders Eligible to Participate in the Plan
The right to participate under the Plan is optional and is available exclusively to shareholders who are registered as holders of Shares at 5:00pm (AEST) on 2 July 2019 (Record Date) and whose registered address is in Australia (Eligible Shareholders).
Share Purchase Plan
The Plan entitles Eligible Shareholders, irrespective of the size of their shareholding, to purchase up to $15,000 worth of Shares at $0.02 per Share (Price), being the same price as the Placement. The volume-weighted average price (VWAP) of Shares traded on the ASX during the 5 trading days immediately prior to the announcement date of the Offer was $0.0212. The Price represents an approximately 5.7% discount to that VWAP.
The number of Shares to be issued under the Plan is limited by the Australian Securities Exchange (ASX) Listing Rules to a maximum of 232,740,245 Shares, being 30% of Nova's share capital. Nova may, in its absolute discretion, undertake a scale-back so that not more than 30% of that number of Shares already on issue, are issued under the Plan. Scale-back decisions are made by the Board and are final. There is no minimum subscription requirement.
An application form for the Plan (Application Form) is included in this package.
Current Activities
Details of Nova's current activities are set out in the announcements made by Nova to the ASX and are available from the ASX, or Nova's website at www.novaminerals.com.au
The funds raised after costs under the Plan, as under the Placement, will be allocated towards funding the Company's explorations activities at its Estelle Gold Project and for general working capital.
To view details, please visit:
http://abnnewswire.net/lnk/16F89213
About Nova Minerals Limited
Nova Minerals Limited (ASX:NVA) (FRA:QM3) is a Gold, Antimony and Critical Minerals exploration and development company focused on advancing the Estelle Project, comprised of 514 km2 of State of Alaska mining claims, which contains multiple mining complexes across a 35 km long mineralized corridor of over 20 advanced Gold and Antimony prospects, including two already defined multi-million ounce resources, and several drill ready Antimony prospects with massive outcropping stibnite vein systems observed at surface. The 85% owned project is located 150 km northwest of Anchorage, Alaska, USA, in the prolific Tintina Gold Belt, a province which hosts a >220 million ounce (Moz) documented gold endowment and some of the world's largest gold mines and discoveries including, Barrick's Donlin Creek Gold Project and Kinross Gold Corporation's Fort Knox Gold Mine. The belt also hosts significant Antimony deposits and was a historical North American Antimony producer.
| ||
|
