Greatland Gold PLC (AIM: GGP, OTC: GRLGF) has indicated that it hasn’t yet decided if it will seek additional funding in conjunction with its upcoming listing on the Australian Securities Exchange.
The statement was prompted by an Australian report alleging that Greatland had engaged the Bank of America and was seeking to raise between A$50 million and A$100 million.
In a recent announcement, Greatland stated, “The preparations for our ASX listing are progressing as planned, and we are contemplating the possibility of raising additional equity capital as part of this process.”
“Initial discussions with investment banks have taken place, but no formal decision has been made regarding a capital raise, nor have we officially engaged any investment banks for the ASX listing,” Greatland added.
The company reassured that it will keep its shareholders updated about all significant developments related to the ASX listing as per the requirements of AIM Rules.
Meanwhile, Greatland’s shares in London experienced a roughly 15% drop on Tuesday, with shares trading at about 7.73p in the early transactions.
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