Gold Aura's share purchase plan

26 July 2008 | 03:51 Code : 17790 Geoscience events
Gold Aura Ltd has announced it has established a new Gold Aura Limited Share....

Gold Aura Ltd has announced it has established a new Gold Aura Limited Share Purchase plan, and the Company will make an offer under the Plan to the Company's Australian and New Zealand - resident shareholders early next month. The Company will seek to raise up to A$1.26 million from the offer. Eligible shareholders registered as at 5.00 pm Brisbane, Australia time on Monday, 28 July 2008 will be entitled to subscribe for up to $5,000 worth of shares in the Company at a price of 3.0 cents per share. This price represents a 5% discount to the average market price of the Company's shares over the last five days on which sales in the Company's shares were recorded.Following completion of the offer under the Plan and subject to shareholder approval, each eligible shareholder who subscribes for shares under the offer and pays the application price will receive free of cost 1 bonus Gold Aura share for every 5 subscribed for under the offer.Those of the Company's directors who are eligible to participate in the Plan have indicated their intention to do so. Use of Funds from Share Purchase Plan OfferGOA will utilise the proceeds of the Share Purchase Plan offer for the Croydon Zinc Project and the Sao Chico high grade gold and base metal project in Brazil and for general working capital.  Expenditure on the Fergusson Island Gold Project will be provided by BacTech under the terms of the recently executed Joint Venture.

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