LONDON - Guardian Metal Resources plc (LON:GMET/OTCQB:GMTLF), a company specializing in mineral exploration and development in Nevada, US, has announced the exercise of warrants that will result in the issuance of 575,527 new ordinary shares. The exercise price for these shares is set at 17p per share, which will contribute £97,839.59 to the company's finances.
The new ordinary shares, referred to as "Warrant Shares," are expected to be admitted for trading on the AIM market of the London Stock Exchange (LON:LSEG) around December 5, 2024. These shares will hold the same rights and privileges as the existing ordinary shares currently traded.
Following the admission of the Warrant Shares, Guardian Metal's total issued share capital will reach 119,937,912 ordinary shares of 1p each. This figure will also represent the total voting rights within the company, which shareholders can use as a basis to assess whether they need to disclose their interest or any change in their interest in the company, as per the rules set by the Financial Conduct Authority.
The exercise of warrants is a routine process for companies seeking additional capital. It allows warrant holders to purchase the company's stock at a predetermined price. This process is often seen as a vote of confidence by investors in the company's potential and prospects.
Guardian Metal Resources has not disclosed any specific plans for the use of the proceeds from this exercise. However, funds raised through such exercises are typically used for corporate purposes, including further exploration and development activities, which in Guardian Metal's case, are focused on strategic mineral opportunities in Nevada.
This announcement is based on a press release statement and should be evaluated in the context of market conditions and the company's strategic direction.
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