Wishbone Gold (LSE:WSBN) raised gross proceeds of £1.1m in an institutional placing arranged by Marex Financial, issuing 4.17m new shares at a placing price of 26.35p each. Subscribers received one warrant for every two shares subscribed, with a 40p exercise price and a two-and-a-half-year life.
The 4.17m new shares increase the company’s issued share capital to 34.4m on Admission; the new issue therefore represents roughly 12.1% of the enlarged share capital. The warrants equate to c.2.09m potential additional shares and, if exercised, would add about 5.7% to the company’s share count on a post-exercise basis.
Dealings in the new shares are expected to start on or about 29 April and the issue is conditional only on Admission.
