Altona Energy Plc - Placing to Raise £523,000
01/29/2021 | 03:02am EDT
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PLACING
Altona (AQSE: ANR.PL), a mining exploration company with a focus on Rare Earth Elements (“REE”) mining projects in Africa, announces it has received subscription letters in respect of a further fundraising of approximately £523,000 before expenses, at an issue price of 6.5 pence per share (“the Placing”).
As of today, the Company has received £168,214 from the new investors and has therefore issued 2,587,909 new ordinary shares (“Placing Shares”). The balance of the funds due in respect of the Placing is expected to be received by the end of February. Upon receipt of the final proceeds of the placing (£355,139) the remaining Placing Shares, being 5,463,683, will be issued to the new investors. The new investors have also been issued with Warrants, each with a strike price of 12 pence, representing a one for two basis on each of the Placing Shares. As a result of the issuance of the Placing Shares, 1,293,954 Warrants have also been issued.