SOLG12 Mar 2025 08:25
Raised $18m, at 45% premium, no dilution.
SolGold plc (LSE & TSX: SOLG) is pleased to announce that its wholly-owned subsidiary, SolGold Canada Inc., has entered into a share purchase agreement pursuant to which it has agreed to sell 157,141,000 ordinary shares of SolGold ("Owned Shares") at a price of US$0.115 per Owned Share, raising gross proceeds of approximately US$18 million (the "Investment"), to Jiangxi Copper (Hong Kong) Investment Company Limited ("JCCHK"), a wholly-owned subsidiary of Jiangxi Copper Company Limited ("JCC", and together with JCCHK, "Jiangxi").
The price represents a premium of approximately 45% to the closing middle-market share price on 11 March 2025.
The Owned Shares were acquired by the Company pursuant to the acquisition of Cornerstone Capital Resources Inc. (now known as SolGold Canada Inc.) (see announcement dated 7 October 2022), effective 24 February 2023. Therefore, no new shares of SolGold have been issued in connection with the Investment and the Company's total issued share capital remains unchanged ("Ordinary Shares").