|By Marketwired .||
|July 8, 2014 09:33 PM EDT||
PERTH, WESTERN AUSTRALIA -- (Marketwired) -- 07/08/14 -- Greenland Minerals and Energy Limited ("GMEL" or "the Company") (ASX: GGG)(PINKSHEETS: GDLNF) is pleased to advise that the rights issue announced on 6 June, 2014 closed on 3 July, 2014 oversubscribed. All securities offered were applied for under the rights issue and as a consequence there was no shortfall. The fully underwritten issue raised approximately $8.9 million (before costs).
The Company is very pleased with the outcome and the level of support it received from its shareholders, particularly in these difficult market conditions. A significant number of shareholders applied for allocations in excess of their entitlement and a large number of rights traded so the issue closed oversubscribed. The Board believes this reflects the world class quality of the Company's flagship Kvanefjeld rare earth-uranium project, and the exciting milestones that GMEL aims to achieve in the near future.
Net proceeds in conjunction with existing cash reserves will be used to finalise a mining license application for the Kvanefjeld project, strategically located in southern Greenland. The Company will continue to progress discussions with potential strategic development partners through this important period.
The rights issue was priced at 10 cents and for every new share applied investors received one new option which will be quoted under the ASX code GGGOA.
The holding statements for the new securities will be dispatched shortly. The rights issue was managed by Patersons Securities Limited, with Wimmer Financial and CPS Securities as co-managers.
GMEL looks forward to providing project updates, and announcing the initiation of key work programs in the coming days to weeks.
To read the full ASX announcement go to www.ggg.gl/docs/ASX-announcements/Completion-of-rights-issue.pdf.
ABOUT GREENLAND MINERALS AND ENERGY LTD.
Greenland Minerals and Energy Ltd. (ASX: GGG) is an exploration and development company focused on developing high-quality mineral projects in Greenland. The Company's flagship project is the Kvanefjeld multi-element deposit (Rare Earth Elements, Uranium, Zinc), which is rapidly emerging as a premier specialty metals project. A comprehensive pre-feasibility study has demonstrated the potential for a large-scale, cost-competitive, multi-element mining operation. For further information on Greenland Minerals and Energy visit www.ggg.gl.
ABN 85 118 463 004
Greenland Minerals and Energy Ltd.
+61 8 9382 2322
+61 8 9388 0944
Oct. 9, 2015 09:30 PM EDT Reads: 307
Oct. 9, 2015 09:00 PM EDT Reads: 403
Oct. 9, 2015 08:45 PM EDT Reads: 129
Oct. 9, 2015 08:15 PM EDT Reads: 201
Oct. 9, 2015 08:00 PM EDT Reads: 313
Oct. 9, 2015 08:00 PM EDT Reads: 929
Oct. 9, 2015 07:45 PM EDT Reads: 165
Oct. 9, 2015 07:45 PM EDT Reads: 185
Oct. 9, 2015 06:45 PM EDT Reads: 221
Oct. 9, 2015 06:30 PM EDT Reads: 127
Oct. 9, 2015 06:00 PM EDT Reads: 324
Oct. 9, 2015 05:30 PM EDT Reads: 114
Chris Van Tuin, Chief Technologist for the Western US at Red Hat, has over 20 years of experience in IT and Software. Since joining Red Hat in 2005, he has been architecting solutions for strategic customers and partners with a focus on emerging technologies including IaaS, PaaS, and DevOps. He started his career at Intel in IT and Managed Hosting followed by leadership roles in services and sales engineering at Loudcloud and Linux startups.
Oct. 9, 2015 04:00 PM EDT Reads: 226
The Internet of Things (IoT) is growing rapidly by extending current technologies, products and networks. By 2020, Cisco estimates there will be 50 billion connected devices. Gartner has forecast revenues of over $300 billion, just to IoT suppliers. Now is the time to figure out how you’ll make money – not just create innovative products. With hundreds of new products and companies jumping into the IoT fray every month, there’s no shortage of innovation. Despite this, McKinsey/VisionMobile data...
Oct. 9, 2015 04:00 PM EDT Reads: 246
You have your devices and your data, but what about the rest of your Internet of Things story? Two popular classes of technologies that nicely handle the Big Data analytics for Internet of Things are Apache Hadoop and NoSQL. Hadoop is designed for parallelizing analytical work across many servers and is ideal for the massive data volumes you create with IoT devices. NoSQL databases such as Apache HBase are ideal for storing and retrieving IoT data as “time series data.”
Oct. 9, 2015 03:45 PM EDT Reads: 510