Great Boulder Resources (ASX:GBR) raising $5M for gold resource expansion

Great Boulder Resources (ASX:GBR) is raising up to $5M at $0.082 per share through a Placement and partially underwritten Entitlements Issue.

Great Boulder Resources says the Placement has received binding commitments from new and existing high net worth investors, family offices and dedicated resource funds.

The Entitlement Offer will be open to eligible shareholders as at a Record Date of March 22 and is expected to close April 14.

The proceeds of the Capital Raising will enable Great Boulder to fund resource expansion exploration and drilling campaigns at the Company’s flagship Side Well Gold Project, as well as a maiden exploration program at the Wellington Base Metal Project.