Great Northern Minerals Launches Unmarketable Share Sale Facility; Shares Jump 9%

MT Newswires Live08-20

Great Northern Minerals (ASX:GNM) launched an unmarketable share sale facility, defined as holdings of less than AU$500 or 41,666 of the miner's shares, according to a Tuesday filing with the Australian bourse.

A total of 926 individuals hold a collective 11,980,270 shares eligible under the facility on the record date of Aug. 16, which are expected to be sold under an agreement with CPS Capital Group for AU$0.01 per share, the filing said.

Shareholders have the option to opt out of the facility, which is set to close on Oct. 3. Proceeds will be sent to participants upon completion of the sale.

Shares of Great Northern Minerals jumped 9% in recent trade.

Price (AUD): $0.01, Change: $+0.0010, Percent Change: +9.09%

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