As announced to the ASX 2 November 2017
The Board of Gooroo Ventures Limited (“Gooroo” or “the Company”) wishes to advise that it has raised approximately $2,110,000 (before costs) through a share placement pursuant section 708 of the Corporations Act (Cth). The raising was well over-subscribed.
The proceeds of the share placement will be used to provide funds for working capital.
The Company has appointed Taylor Collison Limited (‘Taylor Collison’) as Lead Manager to undertake a share placement to raise approximately $2,110,000 before transaction costs (the ‘Placement’). Shaw and Partners Limited is supporting Taylor Collison as co-leaders in the raise.
The Placement is to be undertaken in two tranches, comprising of 21,113,468 fully paid ordinary shares at an issue price of $0.10 (10 cents) per share. The shares will rank equally with the existing ordinary shares on issue.
The Directors of the Company have committed a minimum of an additional $225,000 (2,250,000 fully paid ordinary shares), ‘Director Shares’.
The first tranche, 9,113,468 fully paid ordinary shares, will be placed within the Company’s existing placement capacity pursuant to Listing Rule 7.1.
The second tranche, 12,000,000 fully paid ordinary shares, will be issued subject to shareholder approval to be sought at a general meeting of the Company.
The additional Director Shares will also be subject to shareholder approval to be sought at a general meeting of the Company.
At the completion of the placement and on receipt of the funds, the Company will make an application to the ASX for quotation of these securities.
Mr Daniel Eddington
Taylor Collison Limited
+61 8 8217 3900