Not for release to US wire services or distribution in the United States
Highlights:
- Robex Resources has lodged a prospectus with the Australian Securities and Investment Commission (ASIC) for an Initial Public Offer to raise A$120M (before costs)
- IPO is fully underwritten by joint lead managers, Euroz Hartleys Limited and Canaccord Genuity
- It proposes to issue 38,585,209 CHESS Depository Interests (CDIs) at A$3.11 each (~C$2.73) under the IPO
- Robex, a West African gold producer and developer listed on the TSX Venture Exchange (TSX-V) in Canada, expects to list on the Australian Securities Exchange (ASX) in early June 2025
- Completion of the IPO will ensure development and construction of the Kiniero Gold Project, now fully funded through to first production, which is expected in late 2025
QUEBEC CITY, April 17, 2025 (GLOBE NEWSWIRE) -- West African gold producer and developer Robex Resources Inc (“Robex& or the “Company&) (TSX-V: RBX) is pleased to announce it has lodged a prospectus with the Australian Securities and Investment Commission (ASIC) for an Initial Public Offer (IPO) to raise A$120 million (before costs).
Robex is conducting the IPO as it proposes to list on the Australian Securities Exchange (ASX) in June 2025. It is offering up to 38,585,209 CHESS Depositary Interests (CDIs) at an issue price of A$3.11 each (~C$2.73), to raise A$120 million (before associated costs) (Offer). This represents a 14.8% discount to the last TSX Venture Exchange (TSX-V) closing price of C$3.20 as at 14 April, and a 10.3% discount to the five-day volume weighted average price (VWAP) on TSX-V of C$3.04. Each CDI will represent one underlying common share of Robex. The Prospectus will also enable the Company to comply with the admission requirements of Chapters 1 and 2 of the ASX Listing Rules, as part of its application for admission to the official list of ASX. The Offer is expected to open on 30 April 2025 and is expected to close on 2 May 2025 with the expected commencement of trading of CDIs on the ASX to be on around 3 June 2025. For more details on the Offer, please refer to Prospectus, a copy of which will be available on SEDAR+ at www.sedarplus.ca under Robex&s profile.
The Offer is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX-V and all applicable securities regulatory authorities. The Prospectus has not been filed with any securities commission in Canada and the CDIs may not be offered or sold within Canada or for the account of any Canadian residents except in transactions exempt from, or not subject to, the prospectus and registration requirements of applicable Canadian securities laws.
In accordance with section 734(6) of the Australian Corporations Act 2001 (Cth), the Company advises in respect of the Offer of CDIs under the Prospectus:
- the issuer of the CDIs is Robex Resources Inc. ARBN 682 762 723;
- the Prospectus is available online for Australian residents only at www.computersharecas.com.au/rxripooffer or by contacting Robex by email at cosec@robexgold.com;
- the Offer will only be made in, or accompanied by, a copy of the Prospectus;
- a person should consider the Prospectus in deciding whether to acquire the CDIs;
- anyone who wishes to acquire the CDIs under the Prospectus offer will need to complete the application form that will be in, or will accompany, the Prospectus;
- the Offer under the Prospectus will only be made available to persons receiving the Prospectus in Australia and certain investors in the United States, Canada, New Zealand, Hong Kong, Japan, Singapore, United Kingdom, the European Union (excluding Austria), and Switzerland.
The net proceeds raised pursuant to the dual listing on the ASX will be used for development of the Kiniero Gold Project, financing costs, corporate costs and working capital, including to partially cover the costs of the Offer. A detailed breakdown on the sources and uses of funds is set out in the Prospectus.
Robex&s IPO is fully underwritten by joint lead managers, Euroz Hartleys Limited and Canaccord Genuity (Australia) Limited (the JLMs), withSCP Resource Finance LP appointed as Co-Lead Manager and Blackwood Capital Pty Ltd appointed as Co-Manager to the Offer.
Robex&s Managing Director and Chief Executive Officer Matthew Wilcox said: “Lodging a prospectus for our A$120 million Initial Public Offering in the lead up to our planned listing on the ASX in June is an important and long-awaited milestone for Robex. While we are already listed on the TSX-V, we hope our listing on the ASX will increase our trading activity and volume, thereby allowing all our shareholders to benefit.
“Construction of our Kiniero Gold Project continues to progress on schedule and budget, overseen by a team that has decades of experience of building and operating projects in West Africa. We are confident of achieving first gold at Kiniero in December 2025.
“In addition, we have put together a strong Board and Management team that can safely and strategically guide Robex through its next chapter, as we aim to continue building our resource inventory at Kiniero to provide a larger-scale, longer term gold production platform.
“With the gold price currently at record highs, it is an exciting time to be taking Kiniero into production and delivering on its potential. Funds from our IPO will allow us to fully fund the project through to production.&
About Robex Resources Inc.
Robex is a multi-jurisdictional West African gold production and development company with considerable exploration potential. The Company is dedicated to safe, diverse and responsible operations in the countries in which it operates with a goal to foster sustainable growth. The Company has been operating the Nampala mine in Mali since 2017 and is advancing the Kiniero Project in Guinea.
Robex&s ambition is to become one of the most important mid-tier gold producers in West Africa.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Robex Resources Inc.
Matthew Wilcox, Managing Director and Chief Executive Officer
Alain William, Chief Financial Officer
+1 581 741-7421
Email: investor@robexgold.com
www.robexgold.com
Not an offer of securities
This news release does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any securities described in this news release have not been, and will not be, registered under the US Securities Act of 1933 and may not be offered or sold in the United States except in transactions exempt from, or not subject to, registration under the US Securities Act and applicable US state securities laws.
FORWARD-LOOKING INFORMATION AND FORWARD-LOOKING STATEMENTS
Certain information set forth in this news release contains “forward‐looking statements& and “forward‐looking information& within the meaning of applicable Canadian securities legislation (referred to herein as “forward‐looking statements&). Forward-looking statements are included to provide information about the Company&s management&s (“Management&s&) current expectations and plans that allow investors and others to have a better understanding of the Company&s business plans and financial performance and condition.
Statements made in this news release that describe the Company&s or Management&s estimates, expectations, forecasts, objectives, predictions, projections of the future or strategies may be “forward-looking statements&, and can be identified by the use of the conditional or forward-looking terminology such as “aim&, “anticipate&, “assume&, “believe&, “can&, “contemplate&, “continue&, “could&, “estimate&, “expect&, “forecast&, “future&, “guidance&, “guide&, “indication&, “intend&, “intention&, “likely&, “may&, “might&, “objective&, “opportunity&, “outlook&, “plan&, “potential&, “should&, “strategy&, “target&, “will& or “would& or the negative thereof or other variations thereon. Forward-looking statements also include any other statements that do not refer to historical facts. This news release includes certain “forward-looking statements& under applicable Canadian securities legislation, including, without limitation, statements regarding the terms of the Offer, the completion of the Offer, the receipt of all necessary regulatory approvals for the Offer, the acceptance of the Prospectus by the ASX, the use of proceeds of the Offer and the proposed ASX listing. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.
Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: risks that the Offer and the ASX listing may not be completed, risks related to share price and market conditions, the inherent risks involved in the mining, exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project delays or cost overruns or unanticipated excessive operating costs and expenses, uncertainties related to the necessity of financing, uncertainties relating to regulatory procedure and timing for permitting submissions and reviews, the availability of and costs of financing needed in the future as well as those factors disclosed in the annual information form of the Company dated 22nd April 2025 and other filings made by the Company with the Canadian securities regulatory authorities (which may be viewed at www.sedarplus.ca).
Although the Company believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. These factors are not intended to represent a complete and exhaustive list of the factors that could affect the Company; however, they should be considered carefully. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information.
The Company undertakes no obligation to update forward-looking information if circumstances or Management&s estimates, assumptions or opinions should change, except as required by applicable law. The reader is cautioned not to place undue reliance on forward-looking information.
