Funds Raised by Way of Placing

Regulatory Story

Galileo Resources PLC- GLR

Funds Raised by Way of Placing

Released 15:04 29-Jan-2015

RNS Number : 5326D Galileo Resources PLC
29 January 2015
FOR IMMEDIATE RELEASE
29 January 2015

Galileo Resources Plc ("Galileo" or "the Company") Funds Raised by Way of Placing

Galileo is pleased to announce that it has issued 10,000,000 new ordinary shares at 3p per share to raise GBP 300,000 by way of a placing ("Placing").
The Placing is subject to Shareholder approval of the Capital Re-organisation as announced yesterday, 28 January 2015 ("Shareholder Approval"). The fund raising will provide working capital for the group including the funds to commence its Nevada copper/gold exploration programme.
Application will be made to the London Stock Exchange for admission to trading on AIM of the 10,000,000 new ordinary shares ("Admission"). At the time of Admission, these new ordinary shares will rank pari passu with the existing ordinary shares. Subject to Shareholder Approval, Admission is expected on or around 17 February 2015.
For further information, please contact:

Galileo Resources PLC

Colin Bird, Chairman & CEO

Tel +44 (0)20 7581 4477

Andrew Sarosi, Executive Director

www.galileoresources.com

Tel +44 (0) 1752 221937

Beaumont Cornish Limited - Nominated Adviser

Roland Cornish/Felicity Geidt

Tel +44 (0)20 7628 3396

Hume Capital - Broker

Jon Belliss

Tel +44 (0) 20 3693 1470

Daniel Stewart & Co - Joint Broker

David Coffman/Colin Rowbury

Tel + 44 (0) 20 7776 6596

This information is provided by RNS
The company news service from the London Stock Exchange
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