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Greatland Gold plc (LSE:GGP) announced about the launch of a comprehensive fundraising initiative, which included a placing conducted by Canaccord Genuity Limited (Canaccord) and a separate retail offer via PrimaryBid (together, the Equity Raising).
Retail Offer Success
Following the announcement of the placing results on 11 September 2024, the oversubscribed Retail Offer closed successfully at 4:45 p.m. on 12 September 2024. The Retail Offer was fully subscribed, allowing the Company to raise approximately £6.7 million at a price of 4.8 pence per ordinary share.
Issuance of New Shares
Subject to the passing of Resolution 1 at the Company’s upcoming General Meeting and the closing of the placing, Greatland Gold will issue and allot a total of 140,725,613 new ordinary shares to satisfy the Retail Offer (Retail Offer Shares). Preference in allocation will be given to existing shareholders.
Admission to Trading
An application will be made to the London Stock Exchange for the Retail Offer Shares to be admitted to trading on AIM (Admission). The shares will rank pari passu with the Company’s existing ordinary shares and those issued under the placing. Admission is expected to take place, and dealings are anticipated to commence at 8:00 a.m. on 1 October 2024.
