17 January 2014
The Board of Directors of Stellar Resources Limited (ASX:SRZ) is pleased to announce the raising of $2.6 million before costs through the placement of 50M fully paid ordinary shares in the capital of the Company at an issue price of $0.052 cents per share.
On 14 January 2014, Stellar Resources Limited (ASX:SRZ) signed a Subscription Agreement with Capetown S.A, a private family owned company based in Luxembourg. The owner of Capetown S.A. has a long association with the tin industry having spent the last 40 years developing the Metallum Group, a global non-ferrous metal recycling business.
Under the terms of the agreement, the Board of Stellar Resources Limited has, subject to shareholder approval, also agreed to issue to Capetown S.A, 25M unlisted options in the Company at an exercise price of $0.08 cents and exercisable within a period of 3 (three) years from the date of issue on the basis of 1 (one) ordinary share per option.
Capetown S.A has the right to appoint 1 (one) Director to the Stellar board.
Stellar welcomes Capetown S.A as a major investor and also welcomes the support it has expressed for Stellar's Board and management in the development of the "Heemskirk Tin Project."
The funds raised from the placement and unlisted options (when exercised) will be used to optimize the "Heemskirk Tin Project" and for general working capital purposes.
The Board of Directors of Stellar Resources Limited welcomes Capetown S.A.' investment in the Company and looks forward to a long and fruitful relationship.
For further details please contact:
Phillip Harman
Chairman
Tel: 03 9618 2540
Email: phil.harman@stellarresources.com.au
Peter Blight
CEO
Tel: 03 9618 2540
Email: peter.blight@stellarresources.com.au
STELLAR RESOURCES LIMITED
ABN 96 108 758 961
130111SRL.doc
Level 17 530 Collins Street
MelbourneVictoria 3000 Australia
Tel +61 3 9618 2540 Fax +61 3 9649 7200
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