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Western Gold Resources Ltd. ( (AU:WGR) ) has issued an announcement.
Western Gold Resources Ltd. has issued 1,404,143 new fully paid ordinary shares as part of a $3 million loan facility agreement with professional and sophisticated investors. This issuance, made under section 708A(5)(e) of the Corporations Act 2001, allows lenders to receive their interest payments in shares at a deemed price of $0.08 per share, with an interest rate of 15% per annum paid quarterly. This move is part of the company’s strategy to manage its financial obligations and could impact its market positioning by potentially increasing its shareholder base.
More about Western Gold Resources Ltd.
Western Gold Resources Ltd. operates in the mining industry, focusing on the exploration and development of gold resources. The company is listed on the Australian Securities Exchange (ASX) under the ticker WGR.
Average Trading Volume: 927,309
Technical Sentiment Signal: Buy
Current Market Cap: A$44.17M
Find detailed analytics on WGR stock on TipRanks’ Stock Analysis page.