Allotment of Underwriting and Shortfall Securities under Entitlement Offer
Ballarat, April 27, 2018 AEST (ABN Newswire) - White Rock Minerals Limited (
ASX:WRM) (White Rock) advises that it has today completed the issue and allotment of 55,495,647 new fully paid ordinary shares in White Rock (New Shares) and 27,747,824 new unlisted options exercisable at $0.02 and expiring 26 March 2021 (New Options).
The New Shares and New Options were issued pursuant to the nonrenounceable pro rata entitlement offer announced on 21 March 2018 (Entitlement Offer) which closed on 19 April 2018. Under the Entitlement Offer, eligible shareholders were offered 1 new fully paid ordinary share in White Rock for every 3 shares held at an issue price of $0.01 (1 cent) per share and 1 for 2 options.
As announced on 23 April 2018, these New Shares and New Options are being issued pursuant to the Underwriting agreement with DJ Carmichael Pty Limited and as part of the Shortfall placed by DJ Carmichael Pty Limited.
White Rock now has 1,256,718,369 fully paid ordinary shares and 303,350,593 unlisted options on issue following this issue and allotment of New Shares and New Options.
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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