SPP offer to shareholders
Perth, June 9, 2017 AEST (ABN Newswire) - On 5 June 2017, Ardiden Limited (
ASX:ADV) ("Ardiden" or "the Company") announced its intention to offer shareholders the chance to participate in a share purchase plan to subscribe for additional shares in the Company (Plan).
The Board of Directors of the Company is now pleased to make that offer to eligible shareholders on the terms and conditions enclosed with this letter.
Shareholders Eligible to Participate in the Plan
The right to participate in the Offer under the Plan is optional and is available exclusively to shareholders who are registered as holders of fully paid ordinary shares in the capital of Ardiden Limited (Shares) at 5pm (WST) on the Record Date of 2 June 2017 and whose registered address is in Australia or New Zealand (Eligible Shareholders).
Share Purchase Plan
The Plan entitles Eligible Shareholders in the Company, irrespective of the size of their shareholding, to purchase up to $15,000 worth of Shares at an issue price of $0.015 per Share free of brokerage and commission (Offer). The issue price represents a 11.8% discount to the last traded price of $0.17 and a 9.3% discount to the average market price of the Company's shares on ASX during the 5 trading days immediately prior to the announcement date of the Offer.
Details of the Offer are set out in this letter and the enclosed Terms and Conditions together with an Application Form.
Current Activities
Details of the Company's current activities are set out in the announcements made by Ardiden to the ASX and are available from the ASX or Ardiden' website at www.ardiden.com.au.
The funds raised under the Plan will be used by the Company for the completion of the maiden JORC mineral resource at Seymour Lake Lithium project. Completion of due diligence assessments and drilling at Wisa Lake Lithium project and assessments at the Bold Properties Cobalt, Copper and Nickel project. On-going Lithium assays and metallurgical testing.
Potential acquisition of further key projects. Ongoing development of strategic relationships and improve the Company's working capital position.
To view the Share Purchase Plan, please visit:
http://abnnewswire.net/lnk/0YBF937V
About Ardiden Ltd
Ardiden Limited (ASX:ADV) is an emerging international diversified exploration and development company possessing a mature multi-element asset portfolio, with a near term development pipeline, focused quality projects located in the established mining jurisdiction of Ontario, Canada.
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