White Rock Minerals completes second tranche of placement raising $4.44 million

White Rock Minerals Ltd (ASX:WRM) has completed the second tranche of its A$7.35 million placement to institutional and sophisticated investors announced in May.

More than 1.479 billion shares have been issued under the tranche-2 placement at an issue price of 0.3 cents per share, which will rank equally with existing shares.

Funds will be spent towards White Rock's exploration program at its Red Mountain Project in Alaska, particularly at the recently discovered Last Chance gold stream sediment anomaly and for working capital purposes.

Funds enable “full season of exploration”

Managing director and CEO Matt Gill said: "This injection of funds enables White Rock to conduct a full season of exploration activities at Last Chance in 2020.

“The board is very appreciative of the strong support shown from our current shareholders and welcomes the interest and support being shown from the new investors joining the White Rock journey through this equity raising.”

On July 9, the company extended the closing date for its share purchase plan (SPP) following enquiries from several eligible shareholders interested in participated who had experienced delays in receipt of their SPP offer booklet.

White Rock has also today issued: