Rights Issue Closure and Shortfall Announcement
Ballarat, Nov 18, 2019 AEST (ABN Newswire) - White Rock Minerals Limited (
ASX:WRM) advises that its recent 2 for 3 pro-rata non-renounceable entitlement offer (Entitlement Offer) closed on 13 November 2019. White Rock advises that it raised a total of $997,109 under the Entitlement Offer.
White Rock received acceptances in respect of 199,421,669 shares. The number of shares offered under the Entitlement Offer was 1,090,971,907 shares resulting in a shortfall of 891,550,238 shares.
The new shares under the Entitlement Offer are expected to be issued on 19 November 2019, with trading to commence on 20 November 2019. In addition, 66,474,022 options under the Entitlement Offer exercisable at $0.01 (1 cent) and expiring 4 November 2022 are expected to be issued on 19 November 2019.
The Directors have reserved the right to place any or all of the remaining 891,550,238 shortfall shares within three months after the closing date of the Entitlement Offer. The Company has received expressions of interest for shortfall shares during the offer period of the Entitlement Offer.
The Directors wish to thank all participating shareholders and investors for their support.
About White Rock Minerals Ltd
White Rock Minerals Ltd (ASX:WRM) (OTCMKTS:WRMCF) is a diversified explorer and near-stage producer, headquartered in Ballarat, Victoria. The Company's flagship exploration project is Red Mountain in central Alaska. At Red Mountain, there are already two high grade zinc - silver - gold - lead VMS deposits, with an Inferred Mineral Resource of 9.1 million tonnes @ 609g/t AgEq / 13% ZnEq. The Company is also exploring its recently discovered large intrusion related gold anomaly at Last Chance, also located in the Tintina gold belt of Alaska, home to multi-million gold ounce deposits like Pogo, Fort Knox and the Donlin Project. The Company also has the Mt Carrington project, located near Drake, in Northern NSW, which is a near-production precious metals asset with a resource of 341,000 ounces of gold and 23.2 million ounces of silver on an approved mining lease, and with a Gold First PFS and JORC Reserve.
| ||
|
