Resolution Minerals Ltd: Placement and SPP to Progress 64North Project Alaska
![Resolution Minerals Ltd: Placement and SPP to Progress 64North Project Alaska](https://www.goldseiten.de/media/goldseiten-news.jpg)
Resolution is very pleased to have cornerstone support of the leading North American gold fund, Palisades Goldcorp Ltd, in the placement. PAC Partners and Taylor Collison acted as joint lead managers to the Placement.
"Palisades Goldcorp's strategic investment is a strong endorsement of the upside value they currently see in relation to Resolution's 64North Project located in the well-endowed Tintina Gold Province, home to Alaska's giant size gold deposits such as Fort Knox, Donlin, Pogo and Livengood", said Duncan Chessell, Managing Director Resolution Minerals Ltd.
Participants in the Placement will also receive options to acquire Shares, on a one (1) for one (1) basis with an exercise price of $0.12 per Share and expiring 3 years from the date of issue (Options). The offer of Options will also be extended to SPP participants. The issue of Options will be subject to shareholder approval and, subject to ASX approval, Resolution will seek quotation of the Options. The Options will be issued with disclosure via a "cleansing prospectus" to be issued by the Company in due course.
Funds received from the $3.6 million Placement and $1.0 million SPP will be used to test high priority drill targets across the 64North Project adjacent to Northern Star's Pogo mine (ASX:NST).
A total of 51,608,421 shares will be issued at $0.07 per share to raise $3.6 million under the Placement - 30,965,053 shares will be issued under the Company's 15% placement capacity under Listing Rule 7.1 and a further 20,643,368 shares will be issued under the Company's 10% placement capacity under Listing Rule 7.1A.
An SPP will be launched in recognition of the continued support of our existing shareholders, on the same terms as the placement. Detailed terms of the SPP will be provided in coming days. Applicants issued shares under the SPP will also be entitled to apply for Options (for no additional consideration) in accordance with the terms of the relevant prospectus to be issued.
About Palisades Goldcorp
Palisades Goldcorp is Canada's new resource focused merchant bank. Palisades' management team has a demonstrated track record of making money and is backed by many of the industry's most notable financiers. With junior resource equities valued at generational lows, management believes the sector is on the cusp of a major bull market move. Palisades is positioning itself with significant stakes in undervalued companies and assets with the goal of generating superior returns.
About Resolution Minerals Ltd:
Resolution Minerals Ltd. (ASX:RML) is a mining company engaged in the acquisition, exploration and development of precious and battery metals - such as gold, copper, cobalt, and vanadium.
The company is led by Managing Director Duncan Chessell and an experienced team with proven success in corporate finance, marketing, metallurgy and geoscience. This equips Resolution Minerals with the tools to meet the changing demands of the mining markets.
Resolution Minerals Ltd. Listed on the ASX in 2017 with a focus on the exploration of the Wollogorang Copper Cobalt Project. It has since aquired the Snettisham Vanadium Project and more entered into a binding agreement witth Millrock Resources to earn up to 80% of the highly prospective 64North Gold Project.
Source:
Resolution Minerals Ltd.
Contact:
Resolution Minerals Ltd. Duncan Chessell T: +61-8-8120-0456 E: info@northerncobalt.com.au WWW: www.resolutionminerals.com