GCCP Resources (SGX:41T) entered into an agreement with a private investor for the placement of 176,402,976 new ordinary shares in the capital of the company at SG$0.005 per share, according to a filing with the Singapore Exchange on Thursday.
The aggregate consideration is SG$882,014 and represents around 13% of the existing issued and fully paid-up share capital of the company.
Proceeds from the placement will be used for overseas expansion and for working capital purposes.
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