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20 Feb 2013 10:09
20 February 2013
W Resources Plc
("W" or the "Company")
W Resources Placement
W Resources Plc (AIM:WRES), a tungsten and gold exploration and development company with assets in Spain and Portugal announces that, further to specific investor demand, it has completed a private placement of 43,478,260 ordinary shares of 0.1p per share ("Ordinary Shares") at 1.15p per Ordinary Share to raise approximately £500,000 (the "Placing"). The Placing was subscribed by a single investor.
Application will be made for the new Ordinary Shares being issued in connection with the Placing to be admitted to trading on AIM which is expected to occur on 26 February 2013.
Following the issue of all new Ordinary Shares, the Company will have 1,748,043,308 Ordinary Shares in issue.
Chairman of W, Michael Masterman, commented: "We are delighted to have received further support for our project portfolio, in particular the development of the La Parrilla Tailings, which is scheduled to be in production by the second half of 2013. This placement at over a 60% premium to the January placement will help us drive forward and add significant value to La Parrilla and our strong portfolio of tungsten, tin and gold projects."
Enquiries:
W Resources Plc | Grant Thornton Corporate Finance - Nomad |
Michael Masterman | Gerry Beaney / Melanie Frean / Jen Clarke |
T: +44 (0) 20 7193 7463 | T: +44 (0) 20 7383 5100 |
www.wresources.co.uk | |
Simple Investments - Broker | Gable Communications |
Andy Thacker / Nick Emerson | Justine James |
T: +44 (0) 1483 413500 | T: +44 (0) 20 7193 7463 |
www.simple-investments.co.uk | M: +44 (0) 7525 324431 |
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