Cardinal Completes Second Tranche Placement
Perth, Aug 26, 2016 AEST (ABN Newswire) - Cardinal Resources Limited (
ASX:CDV) ("the Company") is pleased to confirm that following the approval at the General Meeting of Shareholders, held on 19 August 2016, the Company has allotted 19,481,330 fully paid ordinary shares at $0.29 per share.
The Company now has the following shares and listed options on issue:
Fully Paid Ordinary shares: 297,074,697
Options exercisable at $0.15 on or before 30 September 2019: 117,587,039
Archie Koimtsidis, Managing Director of Cardinal, said:
"We are very pleased with the strong level of support from new and existing shareholders who recognise the significant potential of our projects.
"We are pleased that the tremendous potential of our Ghanaian Projects is increasingly being recognised by a range of Sophisticated Investors."
The Appendix 3B and Cleansing Notice, in respect to the securities issued pursuant to the second tranche placement can be viewed in the link below.
To view Appendix 3B, please visit:
http://abnnewswire.net/lnk/40NFH979
About Cardinal Resources Ltd
Cardinal Resources Ltd (ASX:CDV) (TSE:CDV) (OTCMKTS:CRDNF) is a West African gold exploration and development Company that holds interests in tenements within Ghana, West Africa.
The Company is focused on the development of the Namdini Project with a gold Ore Reserve of 5.1Moz (0.4 Moz Proved and 4.7 Moz Probable) and a soon to be completed Feasibility Study.
Exploration programmes are also underway at the Company's Bolgatanga (Northern Ghana) and Subranum (Southern Ghana) Projects.
Cardinal confirms that it is not aware of any new information or data that materially affects the information included in its announcement of the Ore Reserve of 3 April 2019. All material assumptions and technical parameters underpinning this estimate continue to apply and have not materially changed.
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