22nd Mar 2021 10:41
(Alliance News) - Great Western Mining Corp PLC on Monday said it expand its exploration work in Nevada after completing a GBP1 million placing.
The gold, silver and copper explorer raised the cash through the issue of 454.5 million shares at 0.2 pence each. For every two placing shares, a warrant was attached. The warrant allows holder to subscribe for a new share at 0.30p each for two years.
"Following agreements to contract two drilling rigs for its firm and funded 2021 exploration programme, the company now plans to expand the scope of the programme in Nevada and the placing will enable this to take place. This will maximise the company's activity level during 2021," Great Western said.
Shares in the company were 12% lower at 0.23 pence each in London on Monday morning.
By Eric Cunha; [email protected]
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