Deutsche Rohstoff AG: Hammer Metals share placement raises approximately AUD 950.000
Heidelberg/Perth. Hammer Metals announced today the completion of a share placement for the issue of new shares to raise approximately AUD 950,000. The placement of 23.75 million shares at 4 cents per share is being made to sophisticated investors including existing shareholders and new investors. The Company will be using the proceeds (net of offer expenses) from this Placement to fund planned targeted exploration on its Queensland projects at Mount Isa and for working capital.
Deutsche Rohstoff also participated in the placement for AUD 150,000 (EUR 100.000) resulting in an unchanged total shareholding in the Australian explorer of 15.6%. Taking into consideration the convertible bond of AUD 650,000 Deutsche Rohstoff's fully converted stake in Hammer is currently 21.9%.
Detailed press releases and resource updates can be found on Hammer's website http://www.hammermetals.com.au.
Heidelberg, 7 April 2016
Deutsche Rohstoff identifies, develops and divests attractive resource projects in North America, Australia and Europe. The focus is on the development of oil and gas opportunities within the United States. Metals, such as gold, copper, rare earth elements, tungsten and tin complete our portfolio. For more information please visit www.rohstoff.de
Deutsche Rohstoff AG
Tel. +49 6221 871 000