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- Greenvale Mining (GRV) has entered a trading halt ahead of another capital raise, this time to be completed via a placement
- The trading halt will remain in place until August 13, or until the capital raise announcement is made
- The company, which recently changed its name from Greenvale Energy, completed an entitlement offer to raise $2.1 million in July
- It also announced it would be selling its 25 per cent interest in the Arizona Gold Basin Project in the U.S. for $1.142 million
- Shares in Greenvale last traded for 4.3 cents each on August 10
Greenvale Mining (GRV) has entered a trading halt as it gears up to announce another capital raise.
The funds will be raised via a placement, with the full details of the raise to be announced shortly, while the trading halt will be lifted by August 13 at the latest.
Greenvale has had a busy few weeks, recently completing its names change from Greenvale Energy to Greenvale Mining.
The company also undertook an entitlement offer, aiming to raise $2.1 million, in late July.
Gun Capital Management and Mining Investments were the biggest subscribers to the offer, increasing their stake in the company to over 18 per cent.
Further, Greenvale also recently announced it was divesting its 25 per cent stake in the Arizona Gold Basin Project in the U.S.
Greenvale will sell its interest to Candian company Fiorentina Minerals for a total of $1.14s million dollars.
The company said by divesting its stake it would be able to better focus on its majority-owned projects as well as its recently acquired ones.
Shares in Greenvale last traded for 4.3 cents per share on August 10.
