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TAW - Tawana - Funding arrangements with Cygnet Capital Pty Ltd

Release Date: 11/08/2009 09:00:06      Code(s): TAW
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                     
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