26th Feb 2016 15:26
LONDON (Alliance News) - Alba Mineral Resources PLC Friday said it has raised GBP525,000 to use as general working capital after issuing a substantial amount of shares at a discounted price.
Alba raised those funds after it issued almost 131.3 million new shares in the company at 0.4 pence each, a 15% discount to Alba's closing share price on Thursday. Shares in Alba Resources were down 14% at 0.404 pence Friday afternoon.
The 131.3 million shares represent around 9.8% of the company's enlarged issued share capital.
By Joshua Warner; [email protected]; @JoshAlliance
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