Golden Rim Resources Ltd (ASX: GMR) has received firm commitments to raise approximately A$2.44 million via a placement.
New Golden Rim director Dr Doug Jones has agreed to subscribe for three million Placement Shares as part of the Placement for A$90,000.
The Capital Raising is joint lead managed by Argonaut Securities Pty Ltd and Canaccord Genuity (Australia) Limited. Directors eligible to participate propose to take up their entitlements in part or in full under the Entitlement Offer.
Funds from the Capital Raising will be utilised towards exploration drilling and work programs at the company’s flagship Kada Gold Project in eastern Guinea and general working capital.
‘’We have received firm commitments from new and existing shareholders which underlines the support for Golden Rim and its flagship Kada project in Guinea,” CEO, Tim Strong, said.
“The fundraise will allow us to build on the 930,000oz gold resource discovered to date at the Massan prospect and establish the potential resource at the Bereko prospect, as well as initial exploration on additional early-stage targets.
“Kada has the potential to be Guinea’s, and West Africa’s, next big gold discovery. The team and I are excited for what will be a transformational year for Golden Rim.’’
The Entitlement Offer is being extended to Golden Rim shareholders who:
• are registered as a holder of Shares at 7.00pm AEDT on Monday, 19 December 2022 (Record Date);
• have an address on the register in Australia, New Zealand, Mauritius, Hong Kong, Singapore, the Bahamas or the United Kingdom;
• are not in the United States or a US Person or acting for the account or benefit of such persons; and
• are eligible under all applicable securities laws to receive an offer under the Entitlement Offer without any requirement for a prospectus or offer document to be lodged or registered.
The Entitlement Offer is expected to open on Thursday, 22 December 2022 and to close at 5.00pm AEDT on Friday, 13 January 2023.
For further information please visit: https://goldenrim.com.au/