1 Oct 2018 07:00
1 October 2018
Crusader Resources Limited
("Company" or "Crusader")
Suspension of Trading
Crusader Resources Limited (ASX:CAS, AIM:CAS) announced on 14 September 2018, in its interim results for the six months ended 30 June 2018, that notwithstanding the fact that the Directors were pursuing a number of both debt and equity funding options for the Company which are in various stages of negotiation, should the Directors not be successful in raising sufficient additional funding prior to 30 September 2018, there would be a material uncertainty whether the Group would be able to continue as a going concern.
At the request of the Company, trading of its securities on AIM will be suspended from 7:30 a.m. today pending clarification of its financial position and to enable it to consider various proposed capital raising initiatives to provide working capital and to enable the Company to continue with the development of its two gold projects in Brazil.
The Directors confirm that the Company remains in positive discussions with a number of providers of both debt and equity funding and are considering a number of proposals with regard to asset divestiture. However, no funding or disposal agreement has been concluded as yet.
A further announcement will be made, as appropriate, in due course.
For further information, please contact:
Mr. Paul Stephen | Investor Relations |
Executive Director | Office (Aus): +61 8 9320 7500 |
Office (Aus): +61 8 9320 7500 | Email: admin@crusaderresources.com |
Email: paul@crusaderresources.com | |
Smith & Williamson Corporate Finance Limited | Camarco |
Nominated Adviser | Financial PR |
Azhic Basirov / Katy Birkin / Ben Jeynes | Gordon Poole / Nick Hennis / Monique Perks |
+44(0)207 131 4000 | +44(0)20 3757 4997 / +44(0)20 3781 8330 |
Hannam & Partners | Novum Securities |
Joint Broker | Joint Broker |
Neil Passmore / Andrew Chubb / Ernie Bell | Jon Belliss / Colin Rowbury |
+44 (0)20 7907 8500 | +44 (0)20 7399 9425 |