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Corporate Introduction
Petratherm was established on 24 October 2003 with the aim of obtaining tenements suitable for the production of economically viable hot rock energy, together with methodology and research data to assess the potential of such tenements. To date, three Tenements have been obtained which are characterised by:
Potential occurrence of substantial rock masses with naturally occurring radiogenic minerals;
- Proximity to major infrastructure;
- Depth to top of target rock in the three kilometre range;
- Potential heat exchange reservoir characteristics; and
- Location not affected by problems of restricted access.
Petratherm believes that the requirement for power from renewable energy sources will increase, and that hot rock energy is one of the few forms of renewable energy that can provide base-load power without significant impact on the environment.
The pro forma capital structure of Petratherm is set out below to reflect the issued and paid up capital structure of the Company on the basis that the minimum subscription is achieved.
| CAPITAL STRUCTURE | NUMBER OF SHARES | AMOUNT PAID $ | % ISSUED CAPITAL |
| SHARES HELD BY MINOTAUR RESOURCES INVESTMENTS PTY LTD | 1 | 1 | - |
SHARES ALLOTTED TO MINOTAUR RESOURCES INVESTMENTS PTY LTD
Ordinary shares ; being consideration for purchase of all the shares of MNGI Pty Ltd
| 15,000,000 | - | 42.10 |
SHARES OFFERED FOR SUBSCRIPTION
Ordinary shares at $0.20 each payable in full on application
| 20,000,000 | 4,000,000 | 56.14 |
SHARES TO BE ALLOTTED TO ADELAIDE RESEARCH & INNOVATION PTY LTD(contingent upon acceptance.)
Ordinary shares; being consideration for services
| 625,000 | - | 1.76 |
| Proposed issued capital after issue.
| 35,625,001 | 4,000,001 | 100.00 |
| UNLISTED OPTIONS |
| EXISTINGTO BE ISSUED | 10,100,000
2,000,000 | Exercisable at $ 0.20 at anytime on or before 5 years from the date of issue
Exercisable at $ 0.20 at anytime on or before 5 years from the date of issue |
| OPTIONS AFTER ISSUE | 12,100,000 | |
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