Gulf Resources gives notice on Share Placement

Gulf Resources (ASX: GLF), the African focused industrial mineral developer, has today given notice under section 708A(5)(e) of the Corporations Act in relation to an issue of 27,000,000 fully paid ordinary shares by Gulf without disclosure to investors under Part 6D.2 of the Corporations Act.

As at the date of this notice, Gulf has complied with:

(a) the provision of Chapter 2M of the Corporations Act as they apply to Gulf; and

(b) section 674 of the Corporations Act.

Gulf confirms that, as at the date of this notice, there is no information that:

(a) has been excluded from a continuous disclosure notice given to the ASX in accordance with the ASX Listing Rules; and

(b) investors and their professional advisers would reasonably require for the purpose of making an informed assessment of:

(i) the assets and liabilities, financial position and performance, profits and losses of Gulf; and

(ii) the rights and liabilities attaching to fully paid ordinary shares, to the extent to which it would be reasonable for investors and their professional advisers to expect to find such information.

Gulf Resources successfully placed 27,000,000 shares at $0.021 per share to clients of Veritas Securities Limited and sophisticated and professional investors on 12 April, to raise a total of A$567,000 (before expenses).

The funds raised will be utilised on the development of the East African Vermiculite project to ensure the commissioning of the processing plant, expected to come online by the end of this month and for working capital purposes.

Following the completion of this placement, the company will have 212,874,729 shares on issue.

http://www.proactiveinvestors.com.au/companies/news/6510/gulf-resources-gives-notice-on-share-placement-6510.html