Top End Minerals Limited (ASX: TND) (“TND” or “the Company”) is pleased to provide confirmation of the appointment of a key corporate advisor and an update on the proposed capital raising which will result in a lifting of the suspension in trading in the Company’s securities.
Appointment of Corporate Financial Advisor
Top End Minerals has engaged the services of Mr Robert Brierley, an experienced financial and corporate professional, to advise it in relation to the company’s opportunities in Myanmar.
Mr Brierley is a mining engineer with operational and senior management experience across metals, minerals and bulk commodities, including time spent in Myanmar assessing various projects.
He is currently Head of Research at Perth-based broker, RM Capital and has spent 11 years in the stockbroking industry in roles encompassing Corporate Finance, Institutional Advice and Dealing, and Equities Research. He has a broad network of Fund Managers and sophisticated investors both in Australia and overseas.
Mr Brierley’s role will include the coordination and advancement of discussions with potential financiers of the Cornerstone and Bawdwin Options as previously announced. His appointment is effective immediately.
The Company is delighted to have secured a person with Mr Brierley’s capability, experience and connections. His skill set complements those of the Board and we look forward to his contribution in realising the great potential in TND’s Myanmar opportunities.
As previously announced, the Company is undertaking negotiations to raise a total of $3 million by way of a placement. It is proposed that this raising will be completed immediately following a general meeting to be held on 18 August 2017. To complete the capital raising as planned the new Board will be required to complete and lodge a prospectus in accordance with section 713 of the Corporations Act. It is intended that the announcement of the capital raising will lift the suspension in trading in the Company’s securities.
The funds raised will enable the Company to advance the due diligence process on the Cornerstone and WMM (Bawdwin) Options with the necessary financial resources.