Wanguo Gold Group Announces Major Share Subscription

Wanguo International Mining Group Ltd. (HK:3939) has released an update.

Wanguo Gold Group Limited has announced a significant new share subscription agreement on September 22, 2024, where a subscriber will acquire 165,600,000 shares at HK$8.33 each, a discount from recent closing prices. This move will raise approximately HK$1.379 billion in gross proceeds, which will be used to fund the exploration and development of the Gold Ridge Mine and for general company working capital. Shareholders are advised to be cautious as the subscription’s completion is subject to certain conditions.

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