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TAW - Tawana - Funding arrangements with Cygnet Capital Pty Ltd Tawana Resources NL (Incorporated in Australia) (Registration number ACN 085 166 721) Share code on the JSE Limited: TAW ISIN: AU000000TAW7 Share code on the Australian Stock Exchange Limited: TAW ISIN: AU000000TAW7 ("Tawana" or "the Company") 10 August 2009 ASX Announcement Funding arrangement with Cygnet Capital Pty Ltd TAW Resources NL (TAW or the Company) is pleased to announce it has entered into funding arrangements with Cygnet Capital Pty Ltd (Cygnet) on the following terms: 1. Placement of $500,000 by issuing 100,000,000 shares at 0.5cents to Sophisticated Investors (s708) to be split into two tranches; and 2. Underwriting of a rights issue to raise $1,085,694 by way of a 1:1 non- renounceable rights issue at 0.5cents. Subject to regulatory approval, the first tranche of the placement shares (being 29.4 million) will be issued within the Company`s 15% capacity, with the balance of the placement shares being subject to shareholder approval at a meeting to be convened shortly. It is intended that the rights issue will occur shortly following completion of the second tranche of the placement shares, and subscribers to the placement will be entitled to participate in the rights issue. New capital raised will be applied towards rationalizing existing assets and reviewing new opportunities. Full details of the rights issue, including key dates and a timetable, will be announced as soon as possible. Cygnet will be granted 50 million options with a period of 3 years and an exercise price of 1 cent per share as part of its fee on completion of the rights issue. Euan Luff Tawana Resources N.L. About Cygnet Capital Cygnet was formed in 2003 to provide investment banking, corporate advisory, funds management and portfolio management services for corporate clients and individual investors. It provides boutique corporate advisory services to small and medium enterprises seeking growth opportunities. Cygnet has offices in Melbourne and Perth and advises that it currently has over $200m in client funds under management and advice. Cygnet has established commercial relationships with other broking and corporate advisory businesses Australia wide to collectively provide a strong and diversified capital raising network and solid after market support. For more information on Cygnet visit - www.cygnetcapital.com.au Sponsor PricewaterhouseCoopers Corporate Finance (Pty) Ltd Date: 11/08/2009 09:00:06 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
