Results of Entitlement Offer
Ballarat, Feb 2, 2022 AEST (ABN Newswire) - White Rock Minerals Limited (
ASX:WRM) (WRMCF:OTCMKTS) advises that its recent 1 for 4 pro-rata non-renounceable entitlement offer (Entitlement Offer) closed on 28 January 2022. White Rock advises that it raised a total of $1,403,849 under the Entitlement Offer.
White Rock received acceptances in respect of 5,849,367 shares. The number of shares offered under the Entitlement Offer was 37,960,193 shares resulting in a shortfall of 32,110,826 shares.
White Rock's largest shareholder, Crescat Portfolio Management LLC, a precious metals fund based out of Denver, USA, applied for their full entitlement.
All Directors also applied for their full entitlement. In addition, Director Paul McNally has applied for an additional $435,000 of shares at the same price, subject to shareholder approval at the next General Meeting of the Company.
The new shares under the Entitlement Offer are expected to be issued on 2 February 2022, with trading of these new shares to commence on 3 February 2022.
The Directors have reserved the right to place any or all of the remaining 32,110,826 shortfall shares within three months after the closing date of the Entitlement Offer.
About White Rock Minerals Ltd
White Rock Minerals Ltd (ASX:WRM) (OTCMKTS:WRMCF) is a diversified explorer and near-stage producer, headquartered in Ballarat, Victoria. The Company's flagship exploration project is Red Mountain in central Alaska. At Red Mountain, there are already two high grade zinc - silver - gold - lead VMS deposits, with an Inferred Mineral Resource of 9.1 million tonnes @ 609g/t AgEq / 13% ZnEq. The Company is also exploring its recently discovered large intrusion related gold anomaly at Last Chance, also located in the Tintina gold belt of Alaska, home to multi-million gold ounce deposits like Pogo, Fort Knox and the Donlin Project. The Company also has the Mt Carrington project, located near Drake, in Northern NSW, which is a near-production precious metals asset with a resource of 341,000 ounces of gold and 23.2 million ounces of silver on an approved mining lease, and with a Gold First PFS and JORC Reserve.
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