Goldstone Resources raises GBP1.8 million in share subscription

(Alliance News) - Goldstone Resources Ltd on Wednesday said that it has raised GBP1.8 million before expenses via a subscription of 182.0 million new shares at 1 pence each.

According to the Ghana-focused gold producer and explorer, participants in the subscription will also receive, for each subscription share, one warrant exercisable at a price of 2 pence per share for 24 months from the date of issue.

Additionally, Goldstone has entered a deal with Asian Investment Management Services Ltd to extend the standstill period in a previous agreement to December 31, 2025. This relates to the exercise of certain of AIMSL's rights under the gold loan agreement entered on June 19, 2020.

Goldstone shares were untraded at 2.30 pence each in London on Wednesday.

By Holly Beveridge, Alliance News reporter

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