White Cliff Minerals Ltd Stock Market Press Releases and Company Profile
SPP Raises $1.05 Million
SPP Raises $1.05 Million

Perth, Dec 9, 2016 AEST (ABN Newswire) - White Cliff Minerals Limited (googlechartASX:WCN) ("White Cliff" or the "Company") is pleased to advise that its share purchase plan (SPP) closed raising a further $1,050,000 in equity capital. Applications for 139,666,667 shares at an issue price of $0.0075 were received from existing shareholders under the SPP.

The successful SPP combined with the recent $1.5 million placement has resulted in the Company raising $2.55 million in new equity; exceeding the Company's $2 million capital raising target that was set via 2 underwriting agreements with Novus Capital Limited.

Despatch of the SPP shareholding statements is expected to occur on Monday 12 December 2016.

The SPP included one free attaching option exercisable at $0.013 cents on or before 31 December 2018 for every 3 shares subscribed (SPP Options). Shareholder approval for the issue of the SPP Options was received at today's annual general meeting of shareholders.

As outlined in the SPP documents, the Company is required to offer these SPP Options by way of a prospectus which will be lodged with ASX forthwith. The Company will seek ASX listing of these options.

The funds raised pursuant to the SPP will be used to fund additional exploration at the Aucu gold prospect at the Company's Merolia gold project, and for general working capital.

Managing Director Mr Todd Hibberd commented "The Company is pleased with this level of support from existing shareholders. We are confident our planned exploration program will provide further positive exploration results to advance our suite of projects both in Western Australia and in Kyrgyz."

Contact

Todd Hibberd
Managing Director
T: +61-8-9321-2233
W: www.wcminerals.com.au



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