LONDON - Guardian Metal Resources plc (LON:GMET/OTCQB:GMTLF), a strategic mineral exploration and development company based in Nevada, U.S., has announced the successful exercise of warrants that will inject £158,418.41 into the firm. The company received notice for the exercise of warrants for 931,873 new ordinary shares at a price of 17 pence per share.
The new shares are expected to be admitted to trading on the AIM market of the London Stock Exchange (LON:LSEG) around January 30, 2025. These shares will be on equal footing, or pari passu, with the existing ordinary shares of the company.
Following the admission of the new shares, Guardian Metal’s total issued share capital will amount to 126,272,687 ordinary shares of 1 pence each. This figure will also represent the total voting rights, which shareholders can use as a reference for disclosing changes in their holdings as per the Financial Conduct Authority’s Disclosure and Transparency Rules.
The company’s move to increase its share capital through the exercise of warrants provides additional funds that could support its ongoing operations and development projects in the mineral-rich regions of Nevada.
Guardian Metal Resources’ CEO, Oliver Friesen, and its financial advisers, Cairn Financial Advisers LLP, along with Shard Capital Partners (WA:CPAP) LLP, the lead broker, have not provided further details on the specific use of the proceeds from this exercise.
The information for this article is based on a press release statement.
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