Client NewsUpland Resources Limited: Subscription by Cornerstone Investors
The Company is pleased to announce that it has obtained conditional commitments to subscribe for 208,333,333 shares in the Company at 0.60p per share (“Subscription”) on the basis that the investors will receive a warrant to purchase one share for every two shares held at a price of 1.20p. These warrants would be exercisable for a period of 2 years from issue. The Subscription would raise gross cash proceeds of £1,250,000. The Company is also in discussions with other investors concerning the purchase of shares on the same terms (“Financing”). The Company is unable to apply for admission to the Official List for the Subscription shares before it has published an FCA-approved prospectus.
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