Issue of Shares

RNS Number : 5865G

Aura Energy Limited

18 March 2020

 

AURA ENERGY LIMITED

("Aura" or the "Company")

Issue of Shares

Aura wishes to inform the market that on 18 March 2020 the Company issued the following ordinary shares:

Lind Global Macro Fund LP on conversion of convertible notes into

  fully paid ordinary shares  50,000,000

Private placement  50,000,000

Ordinary shares held in Treasury  Nil

Expected Admission date  25 March 2020

Background

Conversion of convertible notes

On 30 April 2019, the Company executed a Convertible Security Financing Agreement and a Security Deed ("Agreement") with Lind Global Macro Fund LP for proceeds of A$2,000,000 (before costs) for convertible notes  with a face value of A$2,400,000.  Following the expiry of 60 days from the date of execution, Lind was entitled to convert convertible notes into ordinary shares in the Company.  Under the Agreement, Lind is entitled to convert its convertible notes into ordinary shares at 90% of the average of 5 daily VWAPs chosen by Lind from the daily VWAPs for the 20 Trading Days immediately prior to the Conversion Notice Date.

On 18 November 2019, the Company and Lind executed a Follow-on Convertible Note for proceeds of A$350,000 (before costs) for convertible notes with a face value of $420,000.

The issue of shares referred to above relates to the ninth Conversion Notice received from Lind to convert A$200,000 of convertible notes into fully paid ordinary shares.  Lind has now converted $1,295,000 of the Convertible Security Facility.

Private Placement

The Company placed 50,000,000 fully paid ordinary shares at 0.4 cents per share to a professional and sophisticated investor in Australia.  The Company has issued the subscriber to the private placement 25,000,000 options over ordinary shares at the price of 0.8 cents per option over ordinary share with an expiry date of 24-months from the date of issue.  The issue of options over ordinary shares is subject to approval of shareholders at a general meeting that the Company will conduct in early May 2020.

Total shares on issue

The total number of ordinary shares on issue following the issue and Admission of the above Shares will be 1,743,465,047.    There are no shares held in treasury and, therefore this figure may be used by shareholders, from the appropriate time, as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

For more information please visit www.auraenergy.com.au or contact the following:

Aura Energy Limited Peter Reeve (Executive Chairman) SP Angel Corporate Finance LLP (Nominated Advisor and Joint Broker) Ewan Leggat Caroline Rowe WH Ireland Limited (Joint Broker) Adrian Hadden James Sinclair-Ford Yellow Jersey PR Limited Felicity Winkles Joe Burgess

Telephone: [phone] [e-mail] Telephone: [phone] Telephone: [phone] Telephone: [phone]

The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014.

 

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