Merdeka Gold Resources Plans Private Placement of Up to 10% of Shares

MT Newswires Live10-21

PT Merdeka Gold Resources (HKG:6228) plans to issue up to 1.47 billion new shares, equivalent to 10% of its existing issued and fully paid-up share capital, through a capital increase without pre-emptive rights, according to a Tuesday Hong Kong bourse filing.

The proposed issuance requires approval from independent shareholders at an extraordinary general meeting scheduled for Nov. 26.

Merdeka Gold Resources plans to use the proceeds for working capital, business development and acquisitions, and repayment or refinancing of existing obligations.

About 25% of the proceeds is earmarked for working capital, while the remaining allocation may vary according to the company's needs.

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