Business
GSC Raises £905,000 to Advance Exploration
GSC Raises £905,000 to Advance Exploration.
About this update from Great Southern Copper Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n23 November 2023\n \nGreat Southern Copper plc\n(\"GSC\" or the \"Company\")\n \n \nGSC Secures £905,000 Funding to Advance Exploration in Chile\n \n \nGreat Southern Copper plc (LSE: GSCU), the company focused on copper-gold and lithium exploration in Chile, is pleased to announce a conditional placing and subscription (\"Placing and Subscription\" or \"Fundraising\") to raise £905,000 before expenses. The Fundraising was supported by existing, institutional and new investors, together with the Company's Directors and key senior geologists participating in the Placing and Subscription.\n \nHighlights\n· Gross amount of £905,000 raised through the Placing and Subscription to raise through the issue of 40,222,206 new ordinary shares of 1p each at £0.0225 per share (\"Placing and Subscription Shares\"). The Placing and Subscription Shares represent 11.7% of the Company's enlarged issued share capital\n· The proceeds will primarily be used to fund:\no Further drilling at high grade Cu-Au targets on the Especularita project\no Detailed mapping and surface sampling of the Colorada lithocap - also at Especularita to define targets for later drilling\no Reconnaissance work and target definition at the San Lorenzo Project\no Commencement of exploration at the recently acquired Monti Lithium Project in the Salar de Atacama district\n· Each Placing and Subscription Share will have one attached warrant exercisable at 4.5p for a period of 24 months from the date of admission to listing and to trading of the Placing and Subscription Shares\n· The Placing and Subscription and the warrants are conditional on the approval by the Financial Conduct Authority (\"FCA\") and publication of a prospectus by the Company (\"Prospectus\") which is expected shortly\n· As part of the Placing and Subscription, the Company's Directors and senior management i...