Completion of A$6.0 Million Placement

Key points

• Completed Tranche One of A$6.0 million Placement
• Issued 62,315,791 new shares at A$0.095 per share
• Funds raised will advance Elizabeth Hill Silver Project
• Tranche Two pending shareholder approval

Full summary

West Coast Silver Limited (ASX: WCE) has completed Tranche One of its previously announced A$6.0 million Placement, issuing 62,315,791 new shares at A$0.095 each, raising A$5.92 million before costs. Tranche Two, comprising 842,106 shares for the Chairman and a Non-Executive Director, is pending shareholder approval. The total Placement issues 63,157,897 shares at A$0.095 each, raising A$6.0 million. These funds will be used to advance the Elizabeth Hill Silver Project, including exploration drilling, development testwork, a Scoping Study, and regional exploration.

Outlook

With the Placement substantially completed, West Coast Silver is well funded to progress its planned work programs at Elizabeth Hill.