Carpentaria Exploration Limited (ASX:CAP) Signs Underwriting Agreement For Exercise Of Options
Sydney, June 22, 2010 AEST (ABN Newswire) - Carpentaria Exploration Limited (
ASX:CAP) is pleased to announce that it has reached agreement for Patersons Securities Limited to be appointed as Lead Manager and Underwriter for the exercise of the listed Options exercisable at 30 cents and expiring on 30 June 2010.
As of 18 June 2010 the Company had circa 20.8 million Options on issue, which if exercised would amount to circa A$6.25 million. The level of underwriting of these Options will be dependant upon the level of sub-underwriting commitments received by Patersons prior to the date of expiry of the Options.
Share allotments for Options exercised will be made on or before 14 July 2010, being within 10 business days from the date of expiry of the Options.
In accordance with ASX Listing Rule 3.11.3, Carpentaria discloses that Patersons will earn an underwriting fee of 5% of the amount underwritten.
About Carpentaria Resources Ltd
Carpentaria Resources Ltd (ASX:CAP) is focussed on delivering the best quality iron concentrates into the growing premium end of the iron ore market.
The Company aims to build a long term, low cost premium quality iron ore business from the development of its flagship asset, the Hawsons Iron Project, utilising existing infrastructure.
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