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) is an Australian listed minerals exploration and development company with projects located in northern NSW (gold and silver) and central Alaska (zinc, silver, lead and gold). The White Rock vision is to explore and develop both precious and base metal projects.
White Rock's cornerstone asset is the Mt Carrington epithermal gold-silver project in northern NSW. The Mt Carrington project has great leverage to the Australian gold and silver prices with a positive scoping study providing a path towards feasibility studies and development in the near term.
White Rock is also exploring the Red Mountain project in Alaska. Red Mountain is a globally significant advanced VMS project with high grade zinc and silver in two deposits. White Rock is exploring for additional high grade deposits that will enhance the projects leverage to an upturn in the fortunes of zinc and silver.
ContactMatt Gill (Managing Director & Chief Executive Officer)
Or Shane Turner (Company Secretary)