Southern Cross Goldfields Limited (ASX:SXG) advises that it has completed the last step in its recent capital raising process.

100,000,000 fully paid ordinary shares have been issued to TrailStone UK Limited ("TrailStone") at an issue price of 1 cent per share raising a total of $1 million. Upon the issue of the shares, TrailStone becomes a substantial shareholder of the Company with a holding representing 7.58% of the issued capital.

The placement has been undertaken in accordance with the terms and conditions which were approved by Shareholders at the Extraordinary General Meeting held on 4 September 2014. An Appendix 3B for the issue of the shares is attached.

In addition Southern Cross Goldfields Limited has issued 1,000,000,000 Warrants to TrailStone UK Limited. The Warrants have been issued as partial consideration for the A$35 million Credit Facility advanced by TrailStone as previously announced to ASX on 8 July 2014. The Warrants did not require shareholder approval because the Warrants themselves carry no voting rights, are not dilutionary to Shareholders as they are not currently exercisable and are not considered to be 'equity securities" at this time.

About Southern Cross Gold Ltd

Southern Cross Gold Ltd (ASX:SXG) is a natural resources company which is engaged in the exploration of precious and base mineral interests. Our corporate objectives are to discover and develop large, long-life, sustainable assets which create shareholder value whilst respecting and considering our employees, communities, stakeholders and the environment in which we work.

    

Contact

Southern Cross Goldfields Limited
David Kinsman, Director
T: +61-8-9215-7600
F: +61-8-9215-7600
E: admin@scross.com.au
WWW: www.scross.com.au



Link: Appendix 3B - Issue of shares to TrailStone UK Limited


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