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Great Western Mining eyes expanded exploration programme after completing £1m equity raise
StockMarketWire.com
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Great Western Mining Corporation said it had completed a placing to raise gross proceeds of £1 million as it looked to expand the scope of its work programme in Nevada.
The company is 'preparing for accelerated follow-on appraisal drilling during the 2021 work season, particularly at the potentially high-impact Trafalgar Hill and OMCO Mine Extension targets,' it said.
'Great Western also has a number of additional drill-ready prospects on its claims where drilling could be brought forward,' it added.
The company issued of 454,545,455 shares at a price of 0.22 pence each.
The company also granted 227,272,727 warrants based on a ratio of one warrant for every two placing shares together with a further 22,727,272 warrants to be granted to Novum Securites Limited acting as broker.
Each placing Warrant carries the right to subscribe for one new share at a price of 0.30 pence per share for two years. Each broker warrant carries the right to subscribe for one new share at a price of 0.22 pence per share for two years.
At 9:33am: (LON:GWMO) Great Western Mining Corporation PLC share price was 0p at 0.24p
Story provided by StockMarketWire.com
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