LONDON – Guardian Metal Resources plc (LON:GMET/OTCQB:GMTLF), a company specializing in strategic mineral exploration and development in Nevada, United States, has announced the exercise of warrants that will inject additional funds into the company. The exercise of the warrants will result in the issuance of 233,823 new ordinary shares at a price of 17 pence per share, raising a total of £39,749.91 for Guardian Metal.
The newly issued shares, referred to as Warrant Shares, are set to be admitted to trading on the AIM market of the London Stock Exchange (LON:) around Monday, January 24, 2025. These shares will carry the same rights as the currently traded ordinary shares of the company.
Following the admission of the Warrant Shares, Guardian Metal’s total issued share capital will increase to 125,340,814 ordinary shares of 1p each. This figure will represent the total voting rights within the company, providing a basis for shareholders to calculate their percentage holdings for disclosure purposes, in accordance with the Financial Conduct Authority’s Disclosure and Transparency Rules.
This development is a part of the company’s ongoing efforts to fund its exploration and development activities. The exercise of warrants is a common financial mechanism that allows existing warrant holders the opportunity to purchase additional shares at a predetermined price, often as part of a previous financing arrangement.
The information regarding the warrant exercise and the subsequent share admission is based on a press release statement issued by Guardian Metal Resources plc. The company’s CEO, Oliver Friesen, and its financial advisers, Cairn Financial Advisers LLP, along with Shard Capital Partners (WA:) LLP, the lead broker, have been involved in the process. Guardian Metal Resources has not disclosed further details on the specific use of the funds raised from this exercise.
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