Successful Completion of $1.6 Million Placement
Ballarat, Mar 28, 2018 AEST (ABN Newswire) - White Rock Minerals Limited (
ASX:WRM) (White Rock) today announces the successful completion of the placement of fully paid ordinary shares (Shares) to institutional and sophisticated investors, as announced on 21 March 2018 (Placement). The Placement raised $1.6 million (before costs).
A total of 159,824,134 Shares have been issued under the Placement at an issue price of $0.01 (1 cent) per Share. The Shares issued under the Placement will rank equally with existing shares.
The proceeds from the Placement will be used to fund White Rock's exploration activities at its Red Mountain Project in Alaska and general working capital purposes.
DJ Carmichael Pty Limited acted as lead manager to the Placement.
Please see the Appendix 3B and cleansing notice in relation to the issue of the Shares also announced today.
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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