INTERVIEW: CEO of WSBN14 Sep 2020 22:49
https://www.proactiveinvestors.co.uk/companies/news/928983/wishbone-gold-refocuses-on-exploration-in-australia-928983.html
If you look at the RNS dated 20th August 2020. For every 2 shares subscribed 1 new warrant was given exercisable at 3p.
In the interview CEO mentioned that warrants have been exercised. This has caused a temporary dip from 5p to 3.1p. We should start to move up very soon possible this week. RNS issued by the company will help to accelerate this process. Next stop will be 9p-10p.
10 Million warrants @ 3p = £300,000 more cash for the company in addition to £400,000 raised recently. That's alot of cash!
Taken from the RNS
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Wishbone Gold Plc (AIM: WSBN, AQSE: WSBN) the precious metals trading and exploration company has, via its broker, Peterhouse Capital Limited, raised a total of GBP400,000.00 before expenses, in a heavily oversubscribed placing of 20,000,000 new ordinary shares of 0.1 pence each (the "Ordinary Shares") at a price of 2 pence per share (the "Funding").
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Pursuant to the Funding, the Company will also grant each 2 Funding shares subscribed by Funding Investors a warrant to subscribe 1 New Ordinary Share in the capital of the Company exercisable for a period of 12 months from admission of the Funding shares at the price of 3.0 pence per ordinary share.
The warrants have an accelerator clause whereby if the price of the Company's shares is sustained at greater than 3p for five consecutive days the Company may choose to force execution of the warrants. The Company is obliged to write to each Warrant holder providing 7 calendar days' notice to exercise the warrants, after which each Warrant holder will have up to 14 days to pay for the exercise of their Warrants, subject to the terms of the Warrant Deed. The warrants will not be traded on an exchange.