Issue of Shares to TrailStone UK Limited
Issue of Shares to TrailStone UK Limited
Perth, Oct 20, 2014 AEST (ABN Newswire) - 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 Black Oak Minerals Ltd

Black Oak Minerals Limited ASX:BOKBlack Oak Minerals Limited (ASX:BOK) is an Australian mining and exploration company that is on the move. Investors in BOK are exposed to a compelling combination of near-term cash flow and outstanding exploration potential in the gold sector.

 


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



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