Jetan is one of WPG’s larger shareholders.
The underwriting is for up to $1,817,723 in respect of all of the remaining 47,834,826 listed in-the-money $0.038 options that expire on 31 December 2016.
Jetan will receive a 3% fee for the underwriting.
WPG recently opened Tarcoola, its second gold mine.
Tarcoola is South Australia’s newest mine, and its development, together with the operating Challenger gold mine, will transform WPG to a successful mid-tier gold producer.
Director support
All of WPG’s directors and key management personnel have reaffirmed their present intention of exercising their options, which in total is circa 15 million, or 31% of the options not yet exercised.
Resignation of managing director
Martin Jacobsen has resigned as managing director and chief executive officer of WPG, due to ill-health, effective immediately.
WPG has already developed a succession plan.