White Rock Minerals Ltd. is raising up to A$5.4 million through a 2-for-3 pro rata nonrenounceable entitlement offer at an offer price of 0.5 Australian cent per share.
Eligible shareholders will get one option for every three new shares, exercisable at 1 cent each, which will expire Nov. 4, 2022.
The company plans to use the funds to advance its Mt Carrington gold-silver project in New South Wales, Australia, including completing a definitive feasibility study, and for general working capital purposes.
White Rock said Sept. 30 that the offer is not underwritten.
The company reported upgraded gold-silver resources for the Strauss and Kylo deposits at Mt Carrington in October 2017.
