Business
Strategic fundraise of £750,000
Strategic fundraise of £750,000.
About this update from Guardian Metal Resources Plc
[{"type":"text","content":"\n\n11 March 2024\nGolden Metal Resources plc\n(\"Golden Metal\" or the \"Company\")\nGolden Metal Strategic Raise of £750,000 to Support Accelerated Exploration in Nevada USA\nSingle Investor £750,000 Subscription at 15p per share\nGolden Metal Resources plc (LON:GMET, OTCQB:GMTLF), a mineral exploration company focused on tungsten, lithium, gold, copper and silver within Nevada, USA, is pleased to announce it has raised £750,000 through a direct subscription with the Company.\nSubscription Highlights:\n- Golden Metal has completed a strategic raise of £750,000 through the issue of 5,000,000 new ordinary shares of 1.0p each (\"Subscription Shares\"), representing 5.5% of the enlarged issued share capital of the Company, in a subscription from Purebond Ltd. (the \"Subscriber\") at an issue price of 15p per share.\n \n- The subscription price represents a premium of 5.3% to the closing market mid-price of the ordinary shares of the Company on 8 March 2024.\n \n- The Subscriber will receive one warrant with every two Subscription Shares subscribed for (2,500,000 new warrants). The warrants have an exercise price of 25p per ordinary share and will expire two-years after the date of the Subscription Shares' admission to trading on AIM.\n \n- The £750,000 raised will be applied to the Company's working capital and the acceleration of exploration and project development activities including, 1) next stage exploration at Garfield, 2) commencement of key permitting steps relating to the development of Pilot Mountain, and 3) diamond drilling of key exploration and resource infill targets at Pilot Mountain. Further details on all of the above items will be announced to the market in due course.\nOliver Friesen, CEO of Golden Metal, commented: \n\"I am very pleased to announce this strategic subscription, from a single investor, at a premium to the market price, providing the Company with £750,000.\n\"We intend to deploy this funding into what we consider to be high impact exploration and development initiatives that have the potential to build considerable value for the Company and shareholders.\"\nADMISSION AND TOTAL VOTING RIGHTS\nApplication will be made for the 5,000,000 Subscription Shares to be admitted to trading on AIM which is expe...