Equity Issues
White Cliff Minerals Limited (ASX: WCN) ('the Company') advises that having received shareholder approval at today's AGM it has now issued 16,000,000 2015 Performance Rights to directors on the terms and conditions as set out in the AGM Explanatory Notice.
Shareholder approval was also received for the issue of 30,000,000 Broker Options to broker nominees as part consideration for broker services provided in relation to the Company's recent share placement and Share Purchase Plan (SPP). A prospectus for the issue of these Broker Options and for options attaching to shares issued under the recent placement and SPP is expected to be lodged with ASIC/ASX tomorrow.
In addition, the Company has today issued 7,500,000 ordinary shares to directors following the exercise of 2014 Performance rights for which the performance hurdles have been achieved.
An Appendix 3B and three Appendix 3Y's in relation to the above follow.
For further information please contact:
www.wcminerals.com.au
Todd Hibberd Managing Director
+61 8 9321 2233
White Cliff Minerals Limited ABN 22 126 299 125 Suite 2, Level 1, 47 Havelock Street, West Perth WA 6005.
PO Box 368 West Perth WA 6872. Telephone +61 8 9321 2233 Facsimile +61 8 9324 2977 www.wcminerals.com.au
About White Cliff Minerals Limited White Cliff Minerals Limited is a Western Australian based exploration company with the following main projects:White Cliff Minerals Limited 2
Appendix 3BRule 2.7, 3.10.3, 3.10.4, 3.10.5
Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.
Introduced 01/07/96 Origin: Appendix 5 Amended 01/07/98, 01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05, 01/08/12
Name of entity
White Cliff Minerals Limited
ABN
22 126 299 125
We (the entity) give ASX the following information.
You must complete the relevant sections (attach sheets if there is not enough space).
Ordinary shares
1 December 2018 options
2015 Performance rights
1 +Class of +securities issued or to be issued
a) 7,500,000
b) 30,000,000
c) 16,000,000
2 Number of +securities issued or to be issued (if known) or maximum number which may be issued
Ordinary shares
Exercisable at $0.012 on or before 1 December 2018
The date (Tranche 1 Vesting Date; 8,000,000 rights), which must be before 31 December 2017, on which:
the Company (or a subsidiary) declares a mineral resource of at least 500,000 ounces gold (or metal equivalent) for a project, or
the Company (or a subsidiary) sells/joint ventures a project for an attributable value of at least $10 million; or
an investor (including any current Shareholder) acquires at least 15% of the issued share capital of the Company. For the purpose of this Vesting Condition any Shares held as at the date of this Notice shall not count toward the calculation of the 15% Acquisition;
an investor accumulates at least a 25% interest in the Chanach Gold-copper project (25% Acquisition) upon a total project valuation of at least $15 million.
The date (Tranche 2 Vesting Date; 8,000,000 rights), which must be before 31 December 2018, on which:
the Company (or a subsidiary) declares a mineral resource of at least 1,000,000 ounces gold (or metal equivalent) for a project, or
the Company (or a subsidiary) sells/joint ventures a project for an attributable value of at least $20 million; or
an investor accumulates at least a 50% interest in the Chanach Gold-copper project (50% Acquisition) upon a total project valuation of at least $30 million; or
the market capitalisation of the Company is equal to or greater than
$30 million for a period of at least 10 consecutive trading days.
3 Principal terms of the
+securities (eg, if options, exercise price and expiry date; if partly paid +securities, the amount outstanding and due
dates for | payment; | if |
+convertible | securities, | the |
conversion price and dates for conversion)
+ See chapter 19 for defined terms.
Appendix 3B Page 2 01/08/2012
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