Placing of Shares Raising Gross Proceeds of £350,000
Greatland Gold plc (“Greatland” or the “Company”), the mineral exploration and development company , is pleased to announce that it has placed 259,259,253 ordinary shares of 0.1p each in Greatland (“Ordinary Shares”) at a price of 0.135p per share raising gross proceeds of £350,000. The funds raised will be used to finance the drilling programmes at its Ernest Giles and Bromus projects, where we have identified both gold and nickel sulphide targets, and provide additional general working capital for the Company.
Application will be made for the admission to trading on AIM of these shares, with admission expected to take place on 25 June 2015.
Following the issue of these shares, Greatland’s share capital will consist of 992,337,945 Ordinary Shares with voting rights. Greatland does not hold any shares in treasury. Therefore, the total number of voting rights in Greatland is 992,337,945. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA’s Disclosure and Transparency Rules.
Callum Baxter, CEO, commented: “This placing will allow us to finance the drilling programmes at our Ernest Giles and Bromus projects, where we have conducted promising surveys on land that has been largely unexplored. We are nearing commencement of drilling at Ernest Giles, with the programme expected to begin within the next seven days and scheduled to last for four weeks. Following completion at Ernest Giles, and with the requisite approvals, we will mobilise our drilling team to Bromus, which we have scheduled for Q3 2015. We look forward to providing further updates as the drilling programmes progress and results become available.”