- Greatland Gold has raised £350,000 through a placing and subscription of shares in the Company, undertaken at a premium to the mid-market closing price as at 3 February 2017.

The net proceeds of the Placing will be used to accelerate exploration activity at Greatland's portfolio of 100% owned, Austraiian-based projects and to provide the Company with a greater range of financing options for any potential acquisitions.

Gervaise Heddle, Chief Executive Officer, commented: "The funds raised today drive the Company's cash balances to approximately £850,000 which provides considerable working capital to further advance our exploration plans at Ernest Giles, Bromus, Havieron and our Tasmanian projects. Moreover, the funds provide the Company with greater financial flexibility to negotiate with external parties in regards to new business opportunities.

Once again, we would like to thank our loyal base of existing shareholders, many of whom participated in this latest placing and subscription, for their encouragement and support."

At 1:34pm: [LON:GGP] Greatland Gold PLC share price was +0.01p at 0.27p

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