Gulf Manganese Placement with Acuity Capital

  • Jan 21, 2020 AEDT
  • Team Kalkine

Gulf Manganese Corporation Limited (ASX:GMC) has announced that it has agreed to place 25,000,000 GMC shares at an issue price of $0.0064 to Acuity Capital for a total raise of A$160,000.

The placement was made in accordance with the Controlled Placement Agreement (“CPA”) with Acuity Capital. The proceeds of placement will be used to meet the working capital needs.

 The issue price of $0.0064 shows a 6.7 per cent premium to the last traded price and 6.3 per cent discount to the Volume Weighted Average Price.

At AEDT (1:10 PM), the stock was trading flat at $0.006 from the previous close.




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