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White Rock Minerals (ASX:WRM) - Managing Director, Matt Gill
Managing Director, Matt Gill
Source: HotCopper
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  • White Rock Minerals (WRM) successfully completes its placement and raises $2.25 million
  • On December 6, the company announced it would be undertaking a placement and entitlement offer to raise $11 million
  • Under the placement, around 9.3 million shares were issued to certain institutional and sophisticated investors at 24 cents each
  • The money will be used to undertake in-mine and regional exploration activities at its Woods Point Gold Project and recapitalise the Morning Star gold mine
  • White Rock ends the day in the grey with shares trading at 23.5 cents

White Rock Minerals (WRM) has successfully completed its placement and raised $2.25 million.

On December 6, the company announced it would be undertaking an equity raising to raise approximately $11 million.

The equity raising consists of a $2.25 million placement and a $9.1 million non-renounceable entitlement offer.

Under the placement, 9,375,000 shares were issued to certain institutional and sophisticated investors at 24 cents each.

This price was a 25 per cent discount to the seven-day volume-weighted average price of 32 cents.

Subject to shareholder approval, Non-Executive Director Paul McNally has committed to place $435,000 on the same terms and conditions of the placement.

White Rock will use the money to undertake in-mine and regional exploration activities at its Woods Point Gold Project and recapitalise the Morning Star gold mine.

White Rock has ended the day in the grey with shares trading at 23.5 cents in a $33.47 million market code.

WRM by the numbers
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