Winsome Resources (ASX: WR1) has secured further funding to ramp-up exploration activities via a flow-through share (FTS) placement.
The company has received firm commitments to undertake the FTS placement to raise approximately C$30M through the issue of 14,450,171shares, at an issue price of C$2.0761 per share.
The offer will be facilitated by Canadian flow-through share dealer PearTree Securities Inc. pursuant to a subscription and renunciation agreement with the company, and the end buyer block trade is being facilitated by Canaccord who is acting as lead manager to the transaction. PearTree will not receive any fees or commissions from the company for its role in respect of the FTS placement.
The flow-through shares will be issued at a 74% premium to the last closing price of Winsome pursuant to the Canadian flow-through shares regime.
Funds raised from the FTS Placement will be specifically applied as follows:
• Expedited follow-up drilling at priority targets at Adina-Jackpot; prospecting, gravity, stripping and channel sampling and CEE eligible staffing expenses at Adina
• Expedited follow-up drilling at priority targets at Cancet; prospecting, gravity, stripping, and channel sampling and CEE eligible staffing expenses at Adina
• Expedited follow-up drilling at priority targets at Tilly; exploration, prospecting, gravity, stripping, and channel sampling and CEE eligible staffing expenses at Tilly
• Surveys, field work, and preliminary drilling campaigns at Winsome’s other projects: Sirmac-Clapier
To find out more, please visit www.winsomeresources.com.au
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