In connection with the acquisitions set out below and in the Prospectus, Ultracharge Limited (ASX: UTR), proposes changing its name to “Suvo Strategic Minerals Limited” and its ASX ticker code to “SUV”.
As announced on 29 October 2019, the Company has entered into share sale agreements, pursuant to which the Company will acquire 100% of the issued capital in each of Watershed Enterprise Solutions Pty Ltd and Mt Marshall Kaolin Pty Ltd.
Watershed is the holder of the Eneabba Sands Project located on the Gin Gin Scarp in Western Australia, which is prospective for silica sand and construction sand.
The Eneabba Sands Project is made up of one granted exploration licence and three exploration licence applications.
It is adjacent to rail connections to Geraldton Port with the potential to be a low capital expenditure and low environmental impact mining operation.
Mt Marshall is the holder of the Mt Marshall Kaolin Project located on the Yilgarn Craton in Western Australia, which is potentially a high-grade kaolin deposit substantially located on private land.
The Mt Marshall Kaolin Project is made up of one granted exploration licence held by Mt Marshall and two applications for exploration licences, which are in the name of Watershed.
The Mt Marshall Kaolin Project is ideally situated for transport of product for export through Fremantle Port.
Watershed has also applied for an exploration licence 50km West of the Mt Marshall Kaolin Project, which will form a new project, the Cadoux South Kaolin Project, if granted.
The Company believes the Cadoux South Kaolin Project is prospective for kaolin.
UltraCharge Ltd to be renamed Suvo Strategic Minerals Ltd (Proposed ASX:SUV) is offering 200,000,000 Shares at an issue price of $0.02 per Share to raise a minimum of $4,000,000, with over subscriptions of up to a further 50,000,000 Shares at an issue price of $0.02 per Share to raise up to a further $1,000,000.
The offer of the securities are made in, or accompanied by, a copy of the Disclosure Document which can be obtained by clicking on the "ACCESS DISCLOSURE DOCUMENT" button on this page.
Anyone who wants to acquire the securities will need to complete the application form that will be in or will accompany the Disclosure Document.
Before making an investment decision, potential investors should read the Disclosure Documents entirely, and seek professional financial advice.
Investors should be aware that there are risks associated with an investment in this Company.
The key risks related to an investment in the Company include various operational risks associated with the ongoing and proposed processing of gold ore and/or silver oxide material (either onsite or by the Company’s contractors), precious metals and input price volatility and risks associated with the Company’s significant financial indebtedness.
A complete set of risks associated with an investment in the Company is included in Section 7 of the Disclosure Document. Investors should consider those risks carefully in deciding whether to invest in the Company.
Key Offer Statistics
|Minimum Subscription $4,000,000||Maximum Subscription $5,000,000|
|Offer Price per Share||$0.02||$0.02|
|Shares currently on issue||112,338,245||112,338,245|
|Cancellation of ETV Shares||(3,000,000)||(3,000,000)|
|Shares to be issued under the Watershed Acquisition||75,000,000||75,000,000|
|Shares to be issued under the Mt Marshall Acquisition||75,000,000||75,000,000|
|Proposed Director Shares||7,480,000||7,480,000|
|Mt Marshall Loan Shares||8,750,000||8,750,000|
|Shares to be issued under the Public Offer||200,000,000||250,000,000|
|Gross Proceeds of the Offers||$4,000,000||$5,000,000|
|Shares on issue Post-Listing (undiluted)||475,568,245||525,568,245|
|Market Capitalisation Post Listing (undiluted)||$9,511,365||$10,511,365|
|Options currently on issue||15,166,670||15,166,670|
|Performance Rights on issue||Nil||Nil|
|Director Options to be issued||11,250,000||11,250,000|
|Performance Rights to be issued||40,000,000||40,000,000|
|Lead Manager Options to be issued||45,616,903||45,616,903|
|Advisor Options to be issued||45,000,000||45,000,000|
|Shares on issue Post-Listing (fully diluted)||632,601,818||682,601,818|
|Market Capitalisation Post Listing (fully diluted)||$12,652,036||$13,652,036|
|Second General Meeting||7 July 2020|
|Closing Date||15 July 2020|
|Issue of Securities under the Offers & Despatch of holding statements||28 July 2020|
|Expected date for re-quotation on ASX||31 July 2020|