ASX Approval Letter and Terms of ASX Waivers
The Company's securities are to be reinstated to official quotation on a date to be decided by ASX but not before 25 January 2019, subject to compliance with the conditions as set out in the ASX letter, which include the conclusion of the Offers and transactions and issues of shares as set out in the Company's prospectus dated 27 September 2018 (as supplemented) (Prospectus). The Company anticipates the ASX conditions as set out in its letter will be satisfied by the 25th January 2019.
The terms of the ASX waivers granted in connection with the approval are set out in Annexure A to this announcement. Unless otherwise stated, capitalised terms not defined in this announcement have the meaning given in the Company's Prospectus.
The Company is looking forward to 2019 being an exciting year for all our shareholders as we build the hemp seed food and medicinal cannabis businesses to the satisfaction of shareholder expectations.
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About Queensland Bauxite Ltd
Queensland Bauxite Limited (ASX:QBL) is an Australian listed company focused on the exploration and development of its bauxite tenements in Queensland and New South Wales. The Company's lead project is the South Johnstone Bauxite Deposit in northern Queensland which has rail running through the project area and is approximately 15-24 kilometres from the nearest deep water port. The Company intends to become a bauxite producer with a focus on commencing production at South Johnstone as early as possible. The Company also pursues additional investment opportunities, and has agreed to acquire a 100% shareholding in Medical Cannabis Limited, an Australian leader in the hemp and Cannabis industries, and a 100% shareholding in Medcan Australia Pty Ltd, a company with an ODC cultivation and production License and a DA approved Cannabis production and manufacturing facility.
Queensland Bauxite Ltd