Business
Conditional £1.0m Fundraise and Director Change
Conditional £1.0m Fundraise and Director Change.
About this update from Goldstone Resources Limited
[{"type":"text","content":"\n \nRNS Number : 5148F Goldstone Resources Ltd 28 July 2016 \n\n28 July 2016\n \nGOLDSTONE RESOURCES LIMITED\n(\"GoldStone\" or the \"Company\")\n \nConditional £1.0 million Fundraise and Director Change\n \nGoldStone Resources Limited (AIM: GRL), the West and Central Africa focused gold exploration company quoted on AIM, is pleased to announce that it has conditionally raised, in aggregate, £1.0 million through a placing and subscription of £0.809 million and the settlement of a loan of £0.191 million (US$0.25 million).\n \nHighlights\n· GoldStone has conditionally raised, in aggregate, £1.0 million before expenses through\n- the placing and subscription of 32,366,400 new ordinary shares of 1.0p each (\"Ordinary Shares\") with new and existing investors at a price of 2.5p (\"Placing Price\") (the \"Placing\")\n- the settlement of Stratex International Plc's (\"Stratex\") unsecured loan of £0.191 million (US$0.25 million), being the amount drawn down to date, (the \"Stratex Loan\") into 7,633,600 new Ordinary Shares based on the Placing Price (the \"Loan Settlement\") (together with the Placing, the \"Fundraise\")\n· Pursuant to the Placing, 9,342,954 new Ordinary Shares will be issued under the Company's existing share authorities and 30,657,046 new Ordinary Shares will be issued under the new share authorities to be sought at the Company's annual general meeting later today (\"AGM\"). However, if shareholders do not approve the Company's share authorities pursuant to Special Resolution 1 as set out in the notice of the AGM, the Fundraise will not proceed\n· The Placing Price represents a discount of approximately 13.0 per cent. to the closing share price of 2.875p on 27 July 2016, being the last day prior to this announcement\n· A warrant to subscribe for one new Ordinary Share at a price of 5.0p per share, being a 100 per cent. premium to the Placing Price, will be attached to each new Ordinary Share issued pursuant to the Fundraise (the \"Warrants\"). The Warrants will vest immediately on issue and are valid for 24 months from the date of Admission. Stratex has undertaken that it will not exe...