W Resources Plc (AIM:WRES), the tungsten, tin and gold mining company with assets in Spain and Portugal, has issued 90,000,000 ordinary shares of 0.1p per share ("Ordinary Shares") at a price of 0.40p per Ordinary Share to a new Spanish investor who has experience in the mining industry for a total placement value of £360,000. These funds will be used to provide working capital during the ramp-up period at La Parrilla.
As mentioned in the announcement dated 15 November 2019 the Company is advanced in finalising an additional debt facility of approximately €1.0m. The company confirms that it continues to expect to receive the €5.3 million grant from the Junta de Extremadura in Q1 2020. A further financing update will be provided in due course.
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 5 December 2019.
Total Voting Rights
Following admission of the new Ordinary Shares, the Company's enlarged issued share capital will comprise 6,378,427,640 Ordinary Shares with voting rights. The Company has no shares held in Treasury. This figure of 6,378,427,640 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.
The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
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