Highlights
- Firm commitments received for $2.25m via the placement of 500 million new shares to existing and new institutional and sophisticated investors
- Placement shares to be issued at $0.0045 per share with 1free attaching option for every 3 Placement Shares subscribed for, with an exercise price of 1¢ per share & expiring 4 years from the date of issue
- Placement will be used to fund resource drilling and advancement towards a scoping study at GTI’s Lo Herma project and to advance exploration at the Company’s Green Mountain & Utah projects
- GTI intends to offer existing shareholders the opportunity to participate in a nonrenounceable pro-rata rights entitlement offer – details to follow
- CPS Capital intends to underwrite the non-renounceable pro-rata rights entitlement offer subject to an underwriting agreement
- The Company also intends to conduct a Priority Option Issue to existing GTRO option holders with details to follow
“We are very pleased to have received support in this placement from both existing and new sophisticated investors. We look forward to our July resource drilling campaign knowing that we will be well funded to advance the Company’s flagship Lo Herma project towards an expanded resource and a scoping study. We look forward to being able to offer all shareholders the opportunity to participate in our planned rights issue on the same terms as the Placement.”
Bruce Lane
Executive Director
