TORONTO, Sept. 12 /CNW/ - The Directors of Gladstone Pacific Nickel
Limited ("Gladstone" or "the Company") advise that they have allotted
1,161,800 ordinary shares in the Company to Special Warrant Holders, in
accordance with the terms of the Special Warrants following the exercise of
Special Warrants by investors who participated in the US$40 million placing
announced on 7 June 2007.
The new shares rank pari passu with the Company's issued ordinary shares.
The ordinary shares are listed on the Toronto Stock Exchange, and application
will be made for the shares to be admitted for trading on AIM on September 18,
2007. The shares are subject to a four-month lock-in period that expires on
December 1, 2007 and cannot be traded on AIM or the Toronto Stock Exchange
prior to that expiry date.
As a result of this allotment the Company will have 39,490,646 ordinary
shares on issue.
Note to Editors:
Gladstone Pacific Nickel Limited (GPNL) is an Australian mining
development company presently undertaking an Integrated Definitive
Feasibility Study (IDFS) for the Gladstone Nickel Project (GNP). The
company's vision is to build a major long-life nickel cobalt refinery at
the deepwater Port of Gladstone, in Central Queensland, Australia,
treating abundant high grade nickel laterite ores from New Caledonia and
other south-west Pacific islands, underpinned by beneficiated ores from
its own Marlborough deposits. The Project has the potential to be one of
the largest of its type in the world producing some 126,000 tpa nickel
(8-10% of global nickel demand) and 10,400 tpa of cobalt metal from its
first two stages.
For further information:
For further information: John Downie, Chief Executive Officer, Gladstone
Pacific Nickel Ltd, Tel: +61 7 3211 8899; Christopher Caldwell, Assistant
Director, Insinger de Beaufort, Tel: 0207 190 7000; Simon Rothschild or Keith
Irons, Bankside Consultants, Tel: 0207 367 8888