Completion of Placement
Completion of Placement
Ballarat, Dec 10, 2021 AEST (ABN Newswire) - White Rock Minerals Limited (ASX:WRM) (OTCMKTS:WRMCF) today announces the successful completion of the placement of fully paid ordinary shares (Shares) to institutional and sophisticated investors, as announced on 6 December 2021 (Placement). The Placement raised $2.25 million (before costs).

A total of 9,375,000 Shares have been issued under the Placement at an issue price of $0.24 (24 cents) per Share. The Shares issued under the Placement will rank equally with existing shares.

The proceeds from the Placement will be used for:

- in-mine and regional exploration activities at its high-grade Woods Point Gold Project in Victoria;

- recapitalisation of the Morning Star gold mine and gold processing facility and for care and maintenance of the mine; and

- working capital.

Viriathus Capital Pty Ltd and Henslow Pty Ltd acted as joint lead managers to the Placement.


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.

  


Contact

Matthew Gill or Shane Turner
Phone: +61-3-5331-4644
Email: info@whiterockminerals.com.au
www.whiterockminerals.com.au




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