$2.5 Million Placement Completed, Cleansing Notice & Options Prospectus

Belararox Limited (ASX:BRX) (“Belararox” or “the Company”) is pleased to confirm the allotment and issue of 7,580,000 fully paid ordinary shares (“Shares”) at $0.33 per Share, to raise $2.5 million (before costs) to sophisticated and professional investors, comprising existing and new shareholders of the Company (“Placement”).

Investment Highlights

• Belararox has completed a strategic capital raise of $2.5 million through a placement of shares and free attaching options
  
• Placement was strongly supported by new and existing sophisticated and professional investors
• The new equity will help fund a range of exploration activities at the Company’s Argentine and Australian projects over the next 6-12 months
• Belararox is focused on commencing exploration work at 11 significant porphyry and associated targets at the TMT Project in Argentina as well as pursuing the significant outcropping pegmatites reported at Bullabulling (WA) and progressing exploration work at Belara (NSW)

Net proceeds of the Placement will be principally used to:

i. accelerate exploration at the exciting TMT Project in the San Juan region of Argentina;

ii. continue exploration and geophysical surveys at the Belara and Native Bee projects in New South Wales;

iii. pursue exploration and other geophysical surveys across the Bullabulling Project in Western Australia; and

iv. apply to general working capital requirements.

The Shares were issued under the Company’s existing placement capacity under Listing Rule 7.1 (1,886,998 Shares) and Listing Rule 7.1A (5,693,002 Shares). The Placement Shares will rank equally with the existing shares of the Company.

Cleansing Notice

The Company gives notice that:

i. it issued the Shares without disclosure to investors under Part 6D.2 of the Corporations Act 2001 (Cth) (“Act”);

ii. this notice is being given under section 708A(5)(e) of the Act;

iii. as at today’s date, the Company has complied with:

iv. the provisions of Chapter 2M of the Act as they apply to the Company; and

v. section 674 of the Act; and

vi. as at the date of this notice, there is no excluded information, as that term is defined in Sections 708A(6)(e), 708A(7) and 708A(8) of the Act.

Options Prospectus

Placement participants will also be entitled to one (1) free attaching Option (exercisable at $0.66, expiring three (3) years from issue) for every two (2) Shares subscribed under the Placement (Placement Options).

PAC Partners Securities Pty Ltd (PAC Partners) has acted as lead manager and bookrunner to the Placement. PAC Partners will receive 6% of gross proceeds raised under the Placement plus 1,263,333 options (on the same terms as the Placement Options) (Broker Options) as remuneration for services as lead manager and bookrunner.

The Placement Options and Broker Options will be issued in due course utilising the Company’s existing placement capacity under Listing Rule 7.1, and the offer of Placement Options and Broker Options will be made under a prospectus to be lodged with ASIC. Subject to meeting the requirements for quotation of the Placement Options and Broker Options under the ASX Listing Rules, the Company will apply for quotation of the Placement Options and Broker Options.

The Directors wish to thank existing shareholders for their continued support of the Company and welcome the new shareholders.

Click here for the full ASX Release

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