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Silver developer Adriatic Metals has announced a $50-million institutional placement to optimise its balance sheet while ramping up the Vares operation in Bosnia and Herzegovina.
The company, which is listed on the ASX, LSE and OTCQX, will issue about 18.3-million CHESS depositary interests (CDIs) over new fully paid shares in the company.
The offer price of A$4.15 per CDI represents a discount to the five-day volume weighted average price on the ASX on May 24.
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