W Resources Plc (AIM:WRES), the tungsten, tin and gold mining Company with assets in
Spain and
Portugal, has completed a placement of 28,278,610 ordinary shares of 0.1p per share ("Ordinary Shares") at 8p per Ordinary Share to raise
£2.26 million (the "Placing") before expenses to new and existing investors.
Michael Masterman, W's Chairman, intends to participate and invest
£250,000 on the same terms as the Placing, once the Company has published its accounts for the year ended
31 December 2020 and the Company is no longer in a closed period; this will increase the fundraising to c£2.5 million. The Company will publish its accounts in the coming weeks.