Greatland Gold plc (LON:GGP), the London Stock Exchange AIM listed precious and base metals exploration and development business, is pleased to announce that it has received binding warrant and option conversion notices for the conversion of a total of 22,000,000 warrants and options for a total amount of £52,750.00, as listed below.
|
Number of warrants or options exercised |
Exercise price (pence) |
Pound value (£) |
New ordinary shares to be issued |
|
5,000,000 |
0.375 |
18,750.00 |
5,000,000 |
|
17,000,000 |
0.2 |
34,000.00 |
17,000,000 |
Gervaise Heddle, Chief Executive Officer, commented: “Greatland has now raised over £520,000 in the month of June from warrant and option conversions, further cementing the Company’s already strong financial position.
“These additional funds will provide Greatland with further flexibility in potential corporate transactions, and will allow Greatland to accelerate exploration activities in the second half of this calendar year at our key projects including the Ernest Giles gold project, the Havieron/Paterson projects and the Panorama cobalt project.
We are seeing an increasing appetite for early stage exploration by the major mining companies in Australia, after several years of relatively low activity in this space by the larger players, and we believe that Greatland is well placed to participate in this important emerging trend.”
As a result of these warrant and option conversions announced today, 22,000,000 new ordinary shares are expected to be admitted to trading on or around 3 July 2017 (“Admission”).
Following Admission the total issued share capital of the Company will consist of 1,984,945,081 ordinary shares. As such the total number of voting rights in the Company will be 1,984,945,081 ordinary shares. This number may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA’s Disclosure and Transparency Rules.
