FERRUM CRESCENT LIMITED - Private placing

Private placing

Ferrum Crescent Limited
(Incorporated and registered in Australia and registered as an
external company in the Republic of South Africa)
(Registration number A.C.N. 097 532 137)
(External company registration number 2011/116305/10)
Share code on the ASX: FCR
Share code on AIM: FCR
Share code on the JSE: FCR      ISIN: AU000000FCR2




PRIVATE PLACING

Highlights


- Ferrum Crescent conducts placement to raise up to GBP
864,000 (AU$1.5 Million) before costs of the issue.
- 48 Million shares (3,386,844 of which are subject to
shareholder approval) to be issued at GBP 0.018 (AU$0.039) per
share (“Placement Shares”).
- Proceeds will be used by the Company to fund corporate
activities and to carry out feasibility study and mining right
activities pending the US$13.5 Million funding under the terms
of the recently announced agreement with Anvwar Asian
Investment (“AAI”)
- The funds from the private placement will be received in two
tranches, with the second tranche representing subscriptions
by two Directors of the Company and requiring shareholder
approval.


Ferrum Crescent the ASX, AIM and JSE quoted iron ore
developer, today announces that it has today received
applications to subscribe for 48 million fully paid ordinary
shares and raise GBP 864,000.     The Placement Shares will rank
equally with existing fully paid ordinary shares from
allotment.
The placement will be conducted in two tranches.    The first
tranche comprises 44,613,156 shares to raise approximately
GBP803,037. The second tranche, comprising 3,386,844 shares to
raise approximately GBP60,963, is subject to shareholder
approval, as these subscribers will be Mr Ed Nealon and Mr
Robert Hair who are Directors and hence related parties under
the provisions of the Corporations Act 2001.


Application will be made for quotation of the Placement Shares
on the Australian Securities Exchange Limited, the AIM market
of the London Stock Exchange and on the JSE Limited, with
trading in the first tranche, expected to commence on or
around 7 October 2013.   Shareholder approval for the second
tranche will be sought at the Company’s annual general
meeting, which will be convened as soon as possible.


Mr. Robert Hair has indicated that he will subscribe for
480,769 Placement Shares and Mr. Ed Nealon has indicated that
he will subscribe for 2,906,075 Placement Shares.


Funds received under the share placements will be used as
working capital, including for the funding of corporate costs
and for feasibility and mining right activities.


Receipt of the proceeds of the issue will mean that the
Company remains fully funded, pending completion of the
recently announced agreement with Anvwar Asian Investment to
facilitate the completion of the Company’s Bankable
Feasibility Study (“BFS”) for the Moonlight Iron Ore Project.
Under that agreement, AAI will, subject to satisfaction of
certain conditions, pay US$10 Million to Ferrum Crescent in
return for a 35% shareholding in Ferrum Iron Ore which holds
the relevant mining right and AAI will also contribute US$3.5
Million for the on going costs of the BFS.


Following the first tranche of the placement, the number of
ordinary shares on issue will be 366,219,541 shares and
following the second tranche of the placement, the number of
ordinary shares on issue will be 369,606,385 shares.


Commenting today Ed Nealon, Chairman, of Ferrum Crescent said:
“we are delighted that even in these difficult times, we have
had a vote of confidence in the quality of the Moonlight Iron
Ore Project, first from Anvwar Asian Investment and now from
existing shareholders and others in London.   Our job is now to
get on with the BFS, continue to de-risk the project and then
to see it through to development and production for the
benefit of all stakeholders.”


2 October 2013
Johannesburg


Sponsor
Sasfin Capital (a division of Sasfin Bank Limited)


For more information, please visit www.ferrumcrescent.com or
contact:



Australia and Company            UK enquiries:
enquiries:
Ferrum Crescent Limited          Ocean Equities Limited
Ed Nealon    T: +61 8 9380       (Broker)
9653                             Guy Wilkes   T: +44 (0) 20
Executive Chairman               7786 4370


Bob Hair    T: +61 414 926 302   RFC Ambrian Limited
Managing Director                (Nominated Adviser)
                                 Sarah Wharry/
                                 Jen Boorer   T: +44 (0) 20
                                 3440 6800


                                 Ferrum Crescent Limited
                                 Laurence Read (UK
                                 representative)
                                 T: +44 7557672432


South Africa enquiries:          Sasfin Capital
                                 Leonard Eiser    T: +27 11 809
                                 7500

Date: 02/10/2013 11:00:00 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.