27th Aug 2015 10:02
LONDON (Alliance News) - Scotgold Resources Ltd on Thursday said it will launch a rights issue to back its gold projects.
Scotgold said it will issue 113.5 million shares at 1.3 cents per share in the 1-for-10 rights issue in order to raise approximately AUD1.5 million. Each new share also will come with an option to subscribe for another share at 1 pence, exercisable on or before September 30, 2017.
The funds will be used to finance the work the company will carry out at the Cononish gold and silver project in Scotland.
Shares in Scotgold were up 2.2% to 0.68999 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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