Code 1 RNS2 Feb 2024 07:45
Wishbone Gold Plc (AIM: WSBN, AQSE: WSBN), is pleased to announce it has raised £300,000 gross to one corporate investor at a price of 1.2 pence per share and will be issuing a total of 25,000,000 new Ordinary Shares of 0.1 pence each (the "Ordinary Shares").
This small placing will provide additional working capital for the Company but importantly will primarily be used to initiate exploration operations at the new Mosquito Creek property in the Pilbara.
Richard Poulden, Wishbone Gold's Chairman, stated:
"When raising fresh equity the board is mindful of dilution especially when share prices are depressed but has decided to do this micro-placing to secure the exploration funds needed for the recently acquired and very exciting Mosquito Creek gold and lithium project in Western Australia. The summer season, which is both hot and wet, is coming to an end in the Pilbara and we are preparing to mobilise our exploration teams back out into the field as the weather starts to cool down. We see Mosquito Creek providing real value to Wishbone Gold shareholders in 2024."
Application will be made for the 25,000,000 new Ordinary Shares, which will rank pari passu with the existing Ordinary Shares in issue, to be admitted to trading on AIM and the AQSE Growth Market ("Admission"). Dealings are expected to commence on or about 8 February 2024 and the issue is subject only to Admission.