Business
Placing of New Ordinary Shares
Placing of New Ordinary Shares.
About this update from Great Western Mining Corp. Plc
[{"type":"text","content":"\n\nThis announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) 596/2014.\nGREAT WESTERN MINING CORPORATION PLC\n(\"Great Western\", \"GWM\" or the \"Company\")\nPlacing of New Ordinary Shares\nGreat Western Mining Corporation PLC (AIM - GWMO, Euronext Growth - 8GW), which is exploring and developing gold, silver and copper targets in Mineral County, Nevada, is pleased to announce the successful completion of a placing to raise gross proceeds (before expenses) of £500,000 through the issue of 909,090,914 new Ordinary Shares of €0.0001 each (the \"Placing Shares\") at a price of 0.055 pence each (the \"Placing\"). SP Angel Corporate Finance LLP acted as Broker in respect of the Placing. The net proceeds will be used for completion, commissioning and start-up working capital at the Company's Western Milling LLC, joint venture in Nevada, which is constructing a mill for production of gold and silver concentrates. Funds will also be used to continue the Company's active ongoing exploration programme for gold and silver and at the M2 copper prospect. The Placing is conditional on Admission.\nDIRECTOR PARTICIPATION\nBrian Hall, Max Williams, Gemma Cryan, Alastair Ford and Andrew Hay, directors of the Company, will participate in the above share issue as follows:\n\n\n\nDirector\n\n\nOrdinary Shares to be issued\n\n\nResultant holding of Ordinary Shares\n\n\nResultant percentage holding (of enlarged issued share capital)\n\n\n\n\nBrian Hall\n\n\n47,272,729\n\n\n219,772,729\n\n\n4.01%\n\n\n\n\nMax Williams\n\n\n12,727,273\n\n\n75,227,273\n\n\n1.37%\n\n\n\n\nGemma Cryan\n\n\n9,090,909\n\n\n9,090,909\n\n\n0.17%\n\n\n\n\nAlastair Ford\n\n\n3,636,363\n\n\n3,636,363\n\n\n0.07%\n\n\n\n\nAndrew Hay\n\n\n18,181,818\n\n\n31,881,818\n\n\n0.58%\n\n\n\n \nSETTLEMENT AND ADMISSION\nApplication will be made to the London Stock Exchange and Euronext Dublin for admission of the Placing Shares to trading on the AIM and Euronext Growth markets respectively (\"Admission\"). The Placing Shares will rank pari passu with the Company's existing issued Ordinary Shares, to be admitted to trading. It is expected that admission will become effective and dealings in the Placing Shares will commence on AIM and Euronext Growth at 8.00 a.m. on 2 August 2023 (or such later date as may be agreed betwe...