Parkway Minerals Completes Private Placement
Released
Released
Announcement PDF
ASX Announcement
25 June 2018
___________________________________________________________________________________________
PARKWAY MINERALS COMPLETES PRIVATE PLACEMENT
COMPANY DETAILS
ABN: 62 147 346 334
Highlights:
PRINCIPAL AND
REGISTERED OFFICE
Parkway Minerals NL
Level 1, 675 Murray St.
West Perth WA 6005
POSTAL ADDRESS
PO Box 1088
West Perth WA 6872
W www.parkwayminerals.com.au
E info@parkwayminerals.com.au
P +61 8 9479 5386
F +61 8 9475 0847
ASX CODE
PWN
FRANKFURT CODE
A1JH27
CORPORATE
INFORMATION
25 June 2018
534M Ordinary shares
123M Partly paid shares
18M Listed Options
13M Unlisted options
BOARD OF DIRECTORS
Adrian Griffin
(Non-Executive Chairman)
Patrick McManus
(Managing Director)
Chew Wai Chuen
(Non-Executive Director)
Natalia Streltsova
(Non-Executive Director)
In receipt of commitments for $500,000.
Funds will be used to participate in placement for Davenport
Resources.
Davenport building on exploration success at South Harz potash
project.
Parkway Minerals (ASX: PWN) is pleased to announce the company has
raised $500,000 via a private placement. Approximately 50 million shares
will be issued at 1c to raise $500,000. Each share will have one free
attaching option exercisable at 2c and expiring 2 years after the date of
issue. The options will be issued subject to shareholder approval. The
placement will take place in two tranches:
Approximately 50 million shares are expected to be issued on or
about 27 June 2018. This issue will not require shareholder
approval as it will fall within the Company’s capacity under ASX
listing rule 7.1.
Approximately 50 million options will be issued subject to
shareholder approval at a general meeting, expected to be held in
August.
Funds will be used to participate in a placement by Davenport Resources
Limited (ASX: DAV). Davenport has recently raised $2.1 M (refer ASX
announcement 21 June 2018). PWN has been allocated 7.1 M shares, and
will hold approximately 32% of Davenport’s issued shares at the
completion of the transaction. Parkway strongly supports Davenports plan
to use funds to fast track the conversion of significant drilling information
to JORC compliant resources, identify and permit drill targets, and
advancing the project towards their goal of establishing Europes largest
undeveloped potash inventory.
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Parkway Minerals NL – Capital Raising
June 2018
Parkway Managing Director Patrick McManus commented “ The South Harz project is producing
strong exploration results. The recent announcements of a JORC Inferred Resource at Ebeleben
(ASX: 16 April 2018) and historic resources at Ohmgebirge (ASX: 18 June 2018) are testament to
that. We are firmly behind DAVs commitment to quickly advance the South Harz potash project
and look forward to the achievement of key milestones in the months ahead. ”
For further information contact:
Parkway Minerals NL:
Patrick McManus
Managing Director
Tel: +61 (08) 9479 5386
Email: info@parkwayminerals.com.au
Web: www.parkwayminerals.com.au
Peter Nesveda
Investor Relations
+61 (0) 412 357 375
peter.nesveda@parkwayminerals.com.au
About Parkway Minerals
Parkway Minerals (ASX: PWN) is a company focused on developing fertiliser feedstock projects. The
Company holds 1,900km2 of exploration licenses and applications over Lake Barlee, where it is exploring a
sulphate of potash project from the brines in the lake, north of Southern Cross in Western Australia.
The Company has a major land holding over one of the world’s largest known glauconite deposits, with
exploration licenses and applications covering an area of over 1,050km2 in the greensand deposits of the
Dandaragan Trough, in Western Australia’s Perth Basin. The area is prospective for both phosphate and
potash. Previous exploration indicates glauconite sediments are widespread for more than 150km along
strike and 30km in width. A pre-feasibility study is in progress for stage 1, production of phosphate
fertilisers. The project is well situated in relation to infrastructure, with close access to rail, power and gas.
A successful commercial outcome will allow the Company to become a major contributor to the potash and
phosphate markets at a time of heightened regional demand.
The Company owns 37.12M shares (34%) of Davenport Resources, which owns a potash exploration project
in the South Harz region of Thuringia, in Central Germany. The region has been a potash producing area for
over 100 years.
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