Gladiator Resources Limited (Company) raises $235,000 via placement. Gladiator Resources Ltd (Company) is pleased to advise that it has today completed a placement to raise $235,000 which will be used to finalize the acquisition of its option over two Victorian gold projects and for short term working capital generally. Under the terms of the placement, to exempt investors under s708 of the Corporations Act, the Company raised $235,000 by placing 293,750,000 fully paid ordinary shares at $0.0008 per share with one attaching option per share exercisable at $0.0015 within 3 years (subject to shareholder approval). The Company completed the placement utilizing its pre-approved (granted 27 November 2019) capacity to place up to $500,000 with the bulk of funds placed to a Hong Kong investment fund. The shares will be issued on 27 February 2020. The Company is preparing to hold a general meeting to approve the issue of the options attached to the placement and its acquisition of the High Gate Vanadium project and expects to refresh its capacity to raise funds at that time. A Notice of Meeting is expected to be dispatched in the short term. Once the meeting is held and relevant approvals obtained, the company can finalise its exploration and capital programs to progress its exploration activities. The Company is particularly keen to commence work on its two Victorian gold projects which it believes show great exploration and development potential. An Appendix 3B will be lodged upon the issue of the shares subject to the placement.
