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Guardian completes £2m strategic financing

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Guardian Metal Resources plc has completed a strategic financing of £2,154,074.58 (US$2.75m) via a direct subscription.

The company issued 7,978,054 new ordinary shares of 1.0p each, representing 6.7% of its enlarged issued share capital, at 27p per share.

The subscribers will receive one warrant with every two subscription shares, totalling 3,989,027 new warrants, with an exercise price of 40p per ordinary share.

The expiry date is two years after the subscription shares’ admission to trading on AIM.

Following admission, the company’s issued share capital will comprise 119,036,319 ordinary shares of 1p each, with voting rights. 

Proceeds will accelerate exploration and project development at Guardian’s Pilot Mountain and Garfield projects in Nevada.

Activities will include drilling new and validated porphyry targets and continuing resource expansion drilling at Pilot Mountain.

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  1. Pingback: Guardian finalises Pilot-Garfield drill targets - Extractive Industries

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