White Rock Minerals Ltd Stock Market Press Releases and Company Profile
Placement of Rights Issue Shortfall
Placement of Rights Issue Shortfall

Ballarat, July 11, 2018 AEST (ABN Newswire) - White Rock Minerals Ltd (googlechartASX:WRM) ("White Rock" or "the Company") is pleased to announce that it has successfully placed all of the shortfall resulting from its non-renounceable pro-rata entitlement offer announced on 21 March 2018 (Entitlement Offer).

The placement is being made on the same terms as under the Entitlement Offer and involves the issue of 171,386,123 fully paid ordinary shares in White Rock at a price of $0.01 (1 cent) per share and the issue of 85,693,062 unlisted options to subscribe for White Rock shares to raise a total of approximately $1.7 million (before costs). The options have an exercise price of $0.02 (2 cents) and expire on 26 March 2021. The placement was made to existing and new sophisticated and professional investors.

The proceeds will be used to advance exploration activities at White Rock's globally significant high-grade zinc VMS Red Mountain project and for general working capital requirements. No shareholder approval is required for the placement.

DJ Carmichael Pty Limited is acting as the lead manager to the placement.

The shares and options are expected to be issued on or about Tuesday 17 July 2018.

MD & CEO Matt Gill said:

"The White Rock board is very appreciative of the support from existing shareholders and new investors and their vote of confidence in the Company's current plans to explore, discover and add to the already globally significant high-grade zinc (and precious metals) VMS resource we have in central Alaska at our Red Mountain project.

We currently have over twenty personnel on site, comprising a terrific support crew, a geological reconnaissance crew, an on-ground geophysics crew and the drilling crew. This funding, combined with the recent strategic relationship and funding entered into with Sandfire Resources (refer ASX announcement on 10th July 2018 "White Rock enters into Strategic Relationship with Sandfire") not only ensures we are fully funded to execute our current exploration program, but to further extend those activities deep into the current Summer season.

As I have said previously, this is indeed an exciting time for the Company and its shareholders."


About White Rock Minerals Ltd

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.

https://www.linkedin.com/company/white-rock-minerals-ltd/ abnnewswire.com 


Contact

Matthew Gill (Managing Director & CEO)
Phone: +61-3-5331-4644

Shane Turner (Company Secretary)
Phone: +61-3-5331-4644
Email: info@whiterockminerals.com.au
Website: www.whiterockminerals.com.au



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