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W resources plc

W Resources £756,000 Placing to Spanish investors at 0.36p to advance Régua mine

W Resources Plc (LON:WRES), the tungsten, copper and gold mining company with assets in Spain and Portugal, has completed a placement of 209,999,998 ordinary shares of 0.1p per share at a price of 0.36p per Ordinary Share to raise £756,000 before expenses, to new Spanish Investors.

The funds raised from the Placing will be used to advance Régua development and provide additional working capital for the Company.

Michael Masterman, Chairman of W Resources, commented: “It’s important to have the continued strong support of the Spanish investors at a time of volatility. Funds will be used to advance the Régua mine and provide a strong base of working capital for W Resources”

Settlement and dealings

Application will be made for the new Ordinary Shares being issued in connection with the Placing to be admitted to trading on AIM with admission expected to occur on or around 16 March 2020.

Total Voting Rights

Following admission of the new Ordinary Shares, the Company’s enlarged issued share capital will comprise 6,700,042,777 Ordinary Shares with voting rights. The Company has no shares held in Treasury. This figure of 6,700,042,777 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA’s Disclosure Guidance and Transparency Rules.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.