18 Apr 2013 10:45
18 April 2013
W Resources Plc
("W" or the "Company")
W Completes Placement
W Resources Plc (AIM:WRES), a tungsten and gold exploration and development company with assets in Spain and Portugal announces that it has completed a private placement of 65,000,000 ordinary shares of 0.1p per share ("Ordinary Shares") at 1.45p per Ordinary Share to raise approximately £942,500 (the "Placing").
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 24 April 2013.
Following the issue of all new Ordinary Shares, the Company will have 1,813,043,308 Ordinary Shares in issue.
Michael Masterman, Chairman of W, commented: "The placement allows us to accelerate the programme of works across our Tungsten portfolio. We have momentum at La Parrilla tailings and mine, Regua and Tarouca and will use these funds to capitalise on the success to date."
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 |