HILLGROVE
ANNOUNCES SUCCESSFUL $15 MILLION EQUITY RAISING AND SHARE PURCHASE
PLAN
Proceeds to be used for
working capital and to fund operational improvements at
Kanmantoo
Hillgrove
Resources Limited (ABN 73 004 297 116) (ASX: HGO) (“Hillgrove” or the “Company”)
today announces a placement of new ordinary Hillgrove shares to certain
sophisticated and institutional investors to raise $15 million, including an
unconditional component and a conditional component which is subject to the
approval of shareholders (“Placement”).
In addition to
the Placement, Hillgrove proposes to offer eligible shareholders as at 7pm
(Sydney time) on Thursday, 12 July 2012 with registered addresses in Australia
and New Zealand the opportunity to acquire up to $15,000 of shares under a Share
Purchase Plan (“SPP”).
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