AGUIA Shareholders Approve Plans to Move Forward with TSXV Listing
(firmenpresse) -
AGUIA SHAREHOLDERS APPROVE PLANS TO MOVE FORWARD WITH TSXV LISTING
Brazilian fertiliser developer Aguia Resources Limited (ASX: AGR) (Aguia or Company - http://www.commodity-tv.net/c/search_adv/?v=297284) is pleased to announce that at an Extraordinary General Meeting held earlier today, shareholders voted overwhelmingly in favour of resolutions that will appropriately position the Company to proceed with an application to become a listed issuer on the Toronto Venture Exchange (TSXV).
To commence trading and receive approval for the TSXV listing, Aguia plans to file a Listing Statement with the TSXV regulators. The purpose of the Listing Statement will be to provide the TSXV with background information on Aguia including the Companys history, financial statements, executive management, board of directors, mineral assets, technical reports and plans for future development. The Companys approval for listing on the TSXV will be entirely at the discretion of the TSXV regulators.
To prepare for a TSXV listing, the Company held an Extraordinary General Meeting (EGM) on 4 April 2017. Aguia shareholders voted on resolutions that will position the Company for success on the TSXV and provide Aguia with the necessary flexibility and broader capital markets support as it advances through to the final Bankable Feasibility Study and required project permitting.
Aguia shareholders voted in favour of a resolution to consolidate the outstanding shares which will make the Companys capital structure and share price more appropriate for the TSXV and a North American investor base. Aguia currently has 451,828,270 shares on issue which is considered high for a TSXV listed company that has less than a CAD$70MM market capitalisation. Under the proposed consolidation, every 5 existing shares will be consolidated into 1 share, and by the same token, the value of each new share will, in theory, be multiplied 5X its pre-consolidation price. The same consolidation will apply to any options outstanding at the time.
Based on guidance from the Canadian regulators, management believes this is a more suitable share structure for the TSXV and will make the shares more appealing to a broader investor base. It should be noted that the ASX trades in AUD$0.001 increments for shares priced below $0.10, while the TSXV trades in CDN$0.005 increments. As such, the proposed consolidated starting base for dual trading in Canada and Australia will not only be more suitable for the TSXV in terms of number of share outstanding, it will also be of significant technical importance for smooth trading as both listings will trade in $0.005 increments at the higher consolidated price.
The Consolidation will take effect on 5th April 2017, in accordance with the following timetable:
Event Indicative Date
Shareholder meeting Tuesday, 4th April,
2017
Effective date of resolution to approve Wednesday, 5th April,
Consolidation 2017
Last day for trading in Thursday, 6th April
pre-consolidated 2017
securities
Trading commences in the consolidated Friday, 7th April 201
securities on a deferred settlement 7
basis
Last day to register transfers on a Monday, 10th April
pre-Consolidation 2017
basis
Registration of securities on Tuesday, 11th April
post-Consolidation basis. 2017
Deferred settlement trading ends. Wednesday, 19th April
2017
Normal trading commences Thursday, 20th April
2017
Executive Chairman Paul Pint commented: We are very pleased that Aguias shareholders voted overwhelmingly to support a TSXV listing and the share consolidation today. This is a key step in making Aguia accessible for North American investors on one of the worlds largest and most liquid global mining markets, and a market that has a large pool of investors investing in global agribusiness sector. We are working towards submitting our listing statement to the TSXV and hope to be trading on both exchanges in the coming weeks.
Managing Director Justin Reid added: Our senior management team has over 50 years of experience and long standing relationships in the Canadian capital markets and we will be focused on promoting the Aguia story to a new audience in the coming weeks, a move which we believe will help increase the profile of Company and contribute to its momentum. Coupled with our supportive shareholder base in Australia, and the fact that the TSXV listing will result in Aguia being dual listed, we will now have access to two key mining and resource markets. We are extremely encouraged by the operational momentum in Brazil and we are confident that this will be reflected in much stronger market support.
Aguia will update shareholders on the timing for the TSXV listing as the Company works through the necessary requirements with the Canadian regulators.
For further information, please contact:
Justin Reid, Managing Director
E: jreid(at)aguiaresources.com.au
T: +1 416-216-5446
Catherine Stretch, Chief Commercial Officer
E: cstretch(at)aguiaresources.com.au
T: +1 416-309-2695
Jan-Per Hole, Vice President Corporate Development Australia
E: jph(at)aguiaresources.com.au
T: +61 (0) 414 899 732
In Europe:
Swiss Resource Capital AG
Jochen Staiger
info(at)resource-capital.ch
www.resource-capital.ch
Aguia Resources Limited ABN 94 128 256 888
Suite 4, Level 9, 341 George Street, Sydney, NSW 2000
Telephone 02 9299 9690 Facsimile 02 9299 9629
www.aguiaresources.com.au
Follow Aguia on Twitter: (at) Aguia_Resources
Released through: Ben Jarvis, Six Degrees Investor Relations: +61 413 150 448
About Aguia:
Aguia Resources Limited, (Aguia) is an ASX listed company whose primary focus is on the exploration and development of phosphate projects in Brazil. Aguia has an established and highly experienced in-country team based in Belo Horizonte, Brazil with corporate offices in Sydney, Australia. Aguias key projects are located in Rio Grande do Sul, a prime farming area which is 100% dependent on phosphate imports. The Rio Grande phosphate deposits exhibit high quality and low cost production characteristics, and are ideally located with proximity to road, rail, and port infrastructure. Aguias experienced management team has a proven track record of advancing high quality mining assets to production in Brazil.
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