Vatukoula Gold Mines has entered into a new subscription agreement with Zhongrun International Mining, under which Zhongrun has subscribed for 20m new ordinary shares in Vatukoula.
With the shares priced a 33p each, the placing will raise £6.6m. The new shares will represent approximately 17.01% of the enlarged issued share capital of the company and once the subscription is completed Zhongrun will hold 29m shares, representing around 24% of the enlarged issued share capital.
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