Extract to list on TSX
The Toronto Stock Exchange (TSX) has approved the listing of Extract Resources’ ordinary shares, to be effective from October 22, 2007.Extract Chairman, Toronto-based Bob Buchan said the dual listing on the TSX represented an important milestone in the development of Extract in the uranium mining industry. “We believe the listing will be beneficial to all shareholders as Extract moves to the next phase of its corporate strategy,” Mr Buchan said. Extract will maintain its existing listing on the Australian Stock Exchange (ASX) as its primary listing. In March 2007, Extract completed a private placement, AUD $15m via institutional investors through Haywood Securities out of Toronto. The offering was well received, indicating strong interest in the company’s activities. There will not be a capital raising associated with the TSX listing. Extract has a broad international spread of shareholders, with a growing presence in the northern hemisphere. The company said it believes that the TSX listing will provide an active market for shareholders through the secondary market, which will support its financing objectives through the progression of its project development phase.