Blackstone Minerals

Blackstone Completes Institutional Component of Entitlement Offer

Blackstone Minerals Limited (“Blackstone” or the “Company”) is pleased to announce that it has completed the institutional component (“Institutional Entitlement Offer” or “Institutional Offer”) of its partially underwritten accelerated non-renounceable pro rata entitlement offer as announced on 4 November 2024 (“Entitlement Offer” or “Offer”).


HIGHLIGHTS

  • Completion of the Institutional Entitlement Offer with firm commitments received from Nanjia Capital Limited of approximately $550k.
  • Commencement of retail component of the Entitlement Offer on Monday 11 November 2024.
  • Retail offer partially underwritten by supportive long term shareholder, Nanjia Capital with $1.65 million firm commitment and underwriting which includes an approximate $1.1m retail offer underwriting component.
  • Proceeds to support the Wabowden Project opportunity, the ongoing Definitive Feasibility Study (“DFS”) for Blackstone’s Ta Khoa Refinery and progress Blackstone’s strategic partnership process.
  • Opportunity for our existing shareholders to participate in the capital raising on the same terms as the institutional shareholders.

The Entitlement Offer is supported by major shareholder Nanjia Capital Limited and controlled entities with a firm commitment to subscribe for entitlements under the Institutional Entitlement Offer up to approximately $550k and an agreement to underwrite the Retail Entitlement Offer up to approximately $1.1m (i.e. for a total investment of approximately A$1.65 million).

Institutional Entitlement Offer

The Institutional Entitlement Offer opened on Monday, 4 November 2024 and closed on Tuesday, 5 November 2024 raising approximately $550k at the offer price of $0.03.

Under the Entitlement Offer, eligible shareholders are invited to subscribe for one (1) New Share for every four (4) existing Shares held at an offer price of $0.03 per share.

The Company’s shares will recommence trading today on the ASX on an ex-entitlement basis.

All New Shares issued under the Entitlement Offer will rank equally with the existing Shares on issue. The Company will apply for quotation of the New Shares issued under the Entitlement Offer.

Retail Entitlement Offer

Retail shareholders with a registered address in Australia, New Zealand, Bermuda, British Virgin Islands, Brunei, Canada (British Columbia), Singapore, Germany, Hong Kong, Isle of Man, Thailand, Vietnam or the United Kingdom at 4.00pm (AWST) on Wednesday, 6 November 2024 (“Record Date”) (“Eligible Retail Shareholders”) will be invited to participate in the Retail Entitlement Offer on the same terms as the Institutional Entitlement Offer.

The Retail Entitlement Offer is expected to open at 9.00am (AWST) on Monday, 11 November 2024 and close at 5.00pm (AWST) on Friday, 29 November 2024 (unless extended).

Eligible Retail Shareholders can choose to take up all, or part or none of their Entitlement under the Retail Entitlement Offer.

The Retail Entitlement Offer will be made under the transaction specific prospectus lodged with ASIC and the ASX on Monday, 4 November 2024 (“Prospectus”). The Prospectus will be dispatched to Eligible Retail Shareholders, together with a personalised entitlement and acceptance form on or around Monday, 11 November 2024.

Eligible Retail Shareholders may also apply for New Shares in addition to their Entitlement at the Offer Price, to the extent there is any shortfall under the Retail Entitlement Offer and will be offered on the same terms and conditions as the Retail Entitlement Offer.

Details of Underwriting Agreement

The Retail Entitlement Offer is partially underwritten by Nanjia Capital Limited (an entity incorporated in Hong Kong) (”Nanjia Capital” or “Underwriter”).

The Underwriter is a substantial shareholder of the Company, which had a relevant interest in 76,856,464 Shares as at the date of the Prospectus. The Underwriter has agreed to underwrite the Retail Entitlement Offer up to approximately $1,100,000.

The obligation of the Underwriter to underwrite the Retail Entitlement Offer is subject to certain events of termination. Refer to Section 7.4(b) of the Prospectus for details regarding the key terms of the Underwriting Agreement.

For further information regarding the application and allocation of Shortfall Shares please refer to Section 3.14 of the Prospectus.


Click here for the full ASX Release

This article includes content from Blackstone Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

BSX:AU
Blackstone Minerals

Blackstone Minerals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Blackstone Minerals

Blackstone Minerals


Keep reading...Show less
Blackstone Minerals

Blackstone Minerals Announces Participation in Red Cloud's 2023 Pre-PDAC Mining Showcase

Blackstone Minerals (ASX: BSX) is pleased to announce that the Company will be presenting at Red Cloud's Pre-PDAC 2023 Mining Showcase. We invite our shareholders and all interested parties to join us.

The annual conference will take place in-person at the Sheraton Centre Toronto Hotel from March 2-3, 2023.

News Provided by Newsfile via QuoteMedia

[subscribe_company_profile use_post="101554437"]

Keep reading...Show less
Blackstone Minerals

Accelerated Non-Renounceable Entitlement Offer Results

Blackstone Minerals Limited (ASX: BSX) (“Blackstone” or the “Company”) advises that the Company has completed its Accelerated Non-Renounceable Entitlement Offer as per the terms of the Prospectus dated 4 November 2024 (“Entitlement Offer”). As announced on 6 November 2024, the institutional component of the Entitlement Offer was completed raising approximately $550k from Nanjia Capital Limited and its controlled entities.

Keep reading...Show less
FPX Nickel (TSXV:FPX)

FPX Nickel


Keep reading...Show less
Nickel bars.

Nickel Price Update: Q3 2024 in Review

Nickel saw solid price momentum in the first half of the year, benefiting from investor sentiment and speculation across commodity markets that saw surge in prices for both precious and base metals.

However, price highs were short-lived as nickel supply and demand fundamentals provided pressures that saw steep declines.

Among the influences has been a supply of laterite nickel flooding the market out of Indonesia, which is a contributing factor to mine curtailments in New Caledonia, Australia, and Europe. Meanwhile, high demand for battery production in China has yet to reach levels to make up for the oversupply in the market.

Keep reading...Show less
Blackstone Minerals

Launch of $4M Accelerated Partially Underwritten Entitlement Offer

Blackstone Minerals Limited (“Blackstone” or the “Company”) is pleased to announce that it is undertaking a partially underwritten accelerated non-renounceable pro rata entitlement offer of new fully paid ordinary shares in the Company (“Shares”) on the basis of one (1) new Share (“New Shares”) for every four (4) existing Shares held, to raise up to approximately A$4 million (before costs) (“Entitlement Offer” or “Offer”).

Keep reading...Show less
Ramp Metals (TSXV:RAMP)

Ramp Metals


Keep reading...Show less
Blackstone Minerals

Blackstone Minerals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×