Issue of Shares and Convertible Notes
ISSUE OF CONVERTIBLE NOTES AND SHARES/APPENDIX 3B
As part of the funding package approved by shareholders on 28 May 2007, the Company has today issued $12,000,000 in secured convertible notes (Convertible Notes). A detailed summary of the terms of the Convertible Notes is contained in the notice of meeting dated 27 April 2007. An Appendix 3B in relation to the issue of the Convertible Notes is attached to this announcement.
In accordance with the shareholder approval and the terms of the Convertible Note Deed, the Company has also issued today 20,000,000 fully paid ordinary shares (Facility Fee Shares) to the Convertible Noteholders as consideration for them providing the $12,000,000 in Convertible Note funding and for making available to the Company a $6,000,000 expansion capital loan facility, details of which are contained in the 27 April 2007 notice of meeting. This issue of the Facility Fee Shares was detailed in the Appendix 3B issued on 31 May 2007.
The Company seeks to rely on case 1 in Section 708A(5) of the Corporations Act ("Act") in respect of the issue of the Facility Fee Shares.
The Company gives notice under paragraph (5) (e) of Section 708A of the Act to confirm that:
1. The Company issued the above shares without disclosure to the placees under Part 6D.2 of the Act.
2. As at the date of this notice the Company has complied with: (a) The provisions of Chapter 2M of the Act (as applicable to the Company); and (b) Section 674 of the Act.
At the date of this notice there is no excluded information (as defined in paragraph (7) of Section 7098A of the Act) which is required to be disclosed by the Company.
Geoffrey Moore Monto Minerals Ltd +61 (0)7 3034 3100
Richard Brown Ambrian Partners Limited 020 7776
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