Business
Completion of Issue of Shares
Completion of Issue of Shares.
About this update from SolGold PLC
[{"type":"text","content":"\n \n \n \n THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, NEW ZEALAND, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO.\n \n \n \n \n \n \n \n \n \n FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION.\n \n \n \n \n \n \n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE EU REGULATION 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (\"MAR\")\n \n \n \n \n \n \n \n \n \n 12 December 2022\n \n \n \n \n SolGold plc\n \n \n \n (\"SolGold\" or the \"Company\")\n \n \n \n Completion of Issue of Shares\n \n \n \n \n \n \n \n \n The Board of Directors of SolGold (LSE & TSX:SOLG) is pleased to announce the successful placing of 180,000,000 new ordinary shares (the \"Investment Shares\") at a price of US$0.20 per share (the \"Investment\") to investors, including Jiangxi Copper (Hong Kong) Investment Company Limited (\"Jiangxi\"), as announced on 23 November 2022. Jiangxi has subscribed to 155,000,000 of the Investment Shares and Maxit Capital LP (\"Maxit\") has subscribed to 23,000,000 of the Investment Shares. The Investment raised aggregate gross proceeds of US$36,000,000.\n \n \n Scott Caldwell, Interim CEO of SolGold, commented:\n \n \n \"We are very pleased to welcome Jiangxi as an investor and partner in SolGold. Jiangxi Copper Company Limited, the parent company of Jiangxi, is one of the largest global producers of refined copper. Their presence is another strategic endorsement for SolGold, the world class Cascabel project and Ecuador as an emerging mining jurisdiction and will be of great benefit to Ecuadorians and SolGold shareholders. This investment further bolsters SolGold's balance sheet and provides the Company with greater optionality while we maintain a disciplined approach to capital allocation to advance strategic project initiatives and exploration opportunities that hold the most significant potential to maximise shareholder value.\"\n \n \n \n PDMR participation in the Placing\n \n \n \n Certain directors of the Company have agreed to participate via the plac...