Guardian Metal Resources plc has raised £750,000 by way of a placing of 2.5 million new ordinary shares of one pence each with a single existing institutional investor at £0.30 per share.
TUNGSTEN
The placing shares, with no warrants attached, represent 2.00% of the enlarged issued share capital of the company.
The investor is UK asset manager Premier Miton whose funds are overseen by fund managers Gervais Williams and Martin Turner.
Mr Williams is president of the Quoted Companies Alliance and member of the AIM advisory panel at the London Stock Exchange.
Following admission, Guardian’s issued share capital will comprise 125,006,991 ordinary shares of 1p each, with voting rights.
Net proceeds will go towards the company’s Pilot Mountain tungsten project and signing the definitive agreement at the Tempiute tungsten mine and mill, both in Nevada.