Greatland Gold (GB:GGP) has released an update.
Greatland Gold plc has conditionally placed over five billion new shares to raise approximately £248.6 million for the acquisition of the Havieron gold-copper project and the Telfer gold-copper mine, aiming to become a significant producer of gold and copper. The Placing was oversubscribed, indicating strong investor support, and the funds will cover the cash consideration for the acquisition, debt repayment, and other related costs. The deal is a reverse takeover under AIM rules, requiring shareholder approval, with a General Meeting scheduled for the end of September 2024.
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