GME Resources: Announces $1.5M entitlement offer
- GME Resources (GME) has announced a 1:10 renounceable entitlement issue to raise up to $1.5 million
- More than 50 million shares will issued at a price of three cents each
- Participating shareholders will receive one new share for every 10 shares held on the record date
- GME will also use the money to continue discussions with potential strategic partners for its NiWest Nickel-Cobalt Project in Western Australia
- The money will also go towards infill drilling at its Fairfield, Homeward Bound and Federation gold prospects, and general working capital
- GME has ended the day with no change and shares trading for four cents each
