TAW - Tawana Resources NL - Capital Raising Update Release Date: 28/09/2009 10:52:01 Code(s): TAW
TAW - Tawana Resources NL - Capital Raising Update
Tawana Resources NL
(Incorporated in Australia)
(Registration number ACN 085 166 721)
Share code on the JSE Limited: TAW
Share code on the Australian Stock Exchange Limited: TAW
("Tawana" or "the Company")
28 September 2009
CAPITAL RAISING UPDATE
Tawana Resources NL (TAW or the Company) is pleased to announce it has
executed Converting Loan documentation to raise $350,000 with sophisticated
and professional investors introduced by Cygnet Capital.
The loan (11% interest payable) is convertible into convertible notes,
subject to approval of members at the Company`s next general meeting. It is
anticipated that the Notice of Meeting will be lodged shortly to call a
general meeting, which will also seek shareholder approval for the second
tranche of the placement that was previously announced to the market.
The loan has a maturity of 24 months. If member approval is given, the loan
will convert into convertible notes which can subsequently be converted into
shares (0.5 cents) on the earlier of 6 months or completion of the planned
entitlements issue to shareholders.
Funds raised will be used for general working capital purposes and for the
identification and review of new business opportunities for the Company.
Tawana Resources NL.
PricewaterhouseCoopers Corporate Finance (Pty) Ltd
Date: 28/09/2009 10:52:01 Supplied by www.sharenet.co.za
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