OTCPK:CGMLF - Post by User
Post by
hainholzon May 29, 2018 6:12am
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Post# 28092003
Money from Chalice
Money from Chalice
Chalice Gold Mines Limited I ABN 47 116 648 956 I Level 2, 1292
Hay Street, West Perth, Western Australia
T: +618 9322 3960 I F: +618 9322 5800 I info@chalicegold.com I
www.chalicegold.com
I Page
1
ASX Announcement
29 May 2018
Chalice
to distribute
EDI
tax credits to shareholders
Chalice Gold Mines Limited (“Chalice” or “the Company”) (ASX: CHN) (TSX: CXN)
is pleased to
confirm
that it will be
participating in the Exploration Development Incentive (EDI) for the tax year ending 30 June 2018.
In March 2015, the Federal Parliament passed legislation introducing the EDI Scheme with effect from 1 July 2014 to run
for three years base
d on an annual application process. The ATO is the administrator of the Scheme.
The EDI Scheme enables eligible exploration companies to create exploration credits to distribute to shareholders by
foregoing a portion of their carried forward tax losses t
hat have arisen from allowable expenditure on “greenfield”
exploration.
The Company will distribute $
103,320.82
of tax credits to shareholders under the EDI. The Company currently has
261,210,294
shares on issue, therefore equating to an EDI distribution of approximately 0.0
396
cents per share.
The record date for shareholder eligibility under the EDI is 30 May 2018. For shareholders to be eligible to receive a pro
-
rata distribution of tax cred
its from the Company they must hold ordinary shares in the Company as at 5pm (WST) on 30
May 2018. EDI tax offsets are only available to Australia
n
tax
resident shareholders.
Eligible shareholders will be issued EDI tax credits available to them on 30 June 20
18 and will be able to claim tax offsets
in the 2017/2018 tax year