IN BRIEF: Phoenix Copper appeals to shareholders to allow equity raise
Phoenix Copper Ltd - developing Empire copper, gold and silver mine in the US state of Idaho - Appeals to shareholders to allow its equity raise to go forward in their voting at the company's annual general meeting on July 24, despite a scandal involving the company's former executive chair and chief financial officer. Early last week, Phoenix said it raised GBP2.4 million from a share placing with institutional investors and subscription by Phoenix directors, selling 489.2 million shares at 0.50 pence each. However, a retail share offer to raise up to a further GBP500,000 raised only GBP67,218, Phoenix said on Friday. To allow the equity raise to be completed, Phoenix needs shareholders to support a special resolution at the AGM to dis-apply their pre-emption rights. Read More