Modification of Share Purchase Plan
Modification of Share Purchase Plan
Canberra, June 6, 2019 AEST (ABN Newswire) - On 24 May 2019, Alt Resources Limited (ASX:ARS) (ACN 168 928 416) (Company) announced an offer to eligible shareholders to participate in the Company's replacement Share Purchase Plan (Replacement SPP) which replaced the Company's original share purchase plan announced on 30 April 2019 (Original SPP).

The Replacement SPP currently entitles eligible shareholders, irrespective of the size of their shareholding, to purchase up to $15,000 worth of fully paid ordinary shares in the capital of the Company (Shares) at an issue price of $0.024 per Share (SPP Price).

On 4 June 2019, the Company announced that it had received firm commitments to raise $1,351,400 (Placement). The Placement is to be conducted via the issue of an aggregate 67,570,000 Shares in two (2) tranches at an issue price of $0.020 per Share (Placement Price).

In light of the Placement and in order to provide eligible shareholders with the ability to participate in the Company's capital raising activities, the Company has resolved to modify the terms of the Replacement SPP in order to:

a) reduce the SPP Price from $0.024 to $0.020 per Share (Revised SPP Price), being the same price as the Placement Price; and

b) extend the closing date for the Replacement SPP from 7 June 2019 to 14 June 2019 (Revised Closing Date).

The Revised SPP Price is a discount of 14.92% to $0.0235 (being the volume weighted average market price (VWAP) for the Shares over the last 5 days on which sales in the Shares were recorded before the day on which the Original SPP was announced (30 April 2019).

Other than the modifications noted above, all terms and conditions of the Replacement SPP remain unchanged.

Shareholders eligible to participate in the Replacement SPP remain those who are registered as holders of Shares at 7:00pm (AEST) on 29 April 2019 (Record Date) and whose registered address is in Australia or New Zealand.

Indicative Timetable

Record Date for Replacement SPP: 29 April 2019

Announce Replacement SPP: 30 April 2019

Opening date for Replacement SPP: 24 May 2019

Closing date for Replacement SPP: 14 June 2019

Lodge Appendix 3B, Issue of new Shares under the Replacement SPP: 19 June 2019

Quotation on ASX of new Shares under the Replacement SPP: 20 June 2019

These dates are indicative only. The Company may vary the dates and times of the offer under the Replacement SPP without notice. Accordingly, shareholders are encouraged to submit their Application Forms as early as possible.

About Alt Resources Ltd

Alt Resources LtdAlt Resources Limited (ASX:ARS) is an Australian based mineral exploration company that aims to become a gold producer by exploiting historical and new gold prospects across quality assets and to build value for shareholders. The Company's portfolio of assets includes the newly acquired Bottle Creek gold mine located in the Mt Ida gold belt in South Central WA 95km north west of Menzies, the Paupong IRG Au-Cu-Ag mineral system in the Lachlan Orogen NSW, Myalla polymetallic Au-Cu-Zn project east of Dalgety in NSW and the Mt Roberts gold project located near the town of Leinster in WA.

Alt Resources, having acquired historical and under-explored tenements in the Mt Ida Gold Belt, aims to consolidate the historical resources, mines and new gold targets identified within the region. Potential at Mt Ida exists for a centralised production facility to service multiple mines and to grow the Mt Ida Gold Belt project to be a sustainable and profitable mining operation.



Andrew Sparke
Executive Director

Peter Nesveda
Investor Relations and Corporate Affairs
Mob: +61 (0) 412 357375

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Alt Resources Ltd

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