Guardian Metal Resources plc (NYSE American:GMTL) (GMET) has launched a roadshow for an approximately $50 million offering of American Depositary Shares.
The company said it intends to use net proceeds "to advance development of its Pilot Mountain tungsten project," and to fund exploration and early-stage engineering work at the Tempiute project and other targets, alongside general corporate purposes, according to the filing.
BMO Capital Markets Corp. is acting as lead book-running manager, Cantor Fitzgerald & Co. as bookrunning manager, with D.A. Davidson & Co. and Berenberg Capital Markets LLC as co-managers. Tamesis Partners LLP is acting as capital markets advisor, the filing added.
The recap
• ~ $50m offering of ADSs, each ADS = 5 ordinary shares, proposed NYSE American ticker "GMTL".
• Proceeds targeted at Pilot Mountain development, Tempiute exploration and general corporate purposes.
• Registration statement filed with the SEC but not yet effective; securities not for sale until effectiveness.
