14th Dec 2023 10:39
Great Southern Copper PLC - UK-based mineral exploration company targeting copper-gold and lithium deposits in Chile - Announces Thursday that 88.1 million new shares admitted to the official list of the financial conduct authority and London Stock Exchange main market became effective.
40.2 million of the new shares were issued at a price of 2.25 pence each, for a total of GBP905,000 through a placing and subscription. 41.7 million new shares of 1.2 pence each were issued along with a subscription price of 1.2 pence in accordance with an May agreement between Great Southern and its major shareholder Foreign Dimensions Pty Ltd. Arising on conversion of convertible notes, this conditional placing and subscription raised GBP501,000 for further exploration in Chile. 4.8 million new shares at between 1.2 pence and 2.27 pence per share were issued to four company directors and one former CFO. 1.7 million ordinary shares at 1.2 pence were issued as part of a payment to the vendors of the San Lorenzo project, Chile.
Current stock price: down 4.1% at 2.30 pence per share in London on Thursday morning
12-month change: down 2.0%
By Hugh Cameron, Alliance News reporter
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