27th Jan 2020 14:31
(Alliance News) - Mining royalty firm Altus Strategies PLC on Monday said it completed the second and final part of a GBP2.4 million private placement.
As part of the second tranche, German firm Delphi Unternehmensberatung AG was issued 14.0 million shares at 5.2 pence each, raising GBP728,000 in total. Delphi now owns 15% of the company.
Shares in Altus were 3.6% lower at 6.51p each in London on Monday afternoon.
Altus in December said it offered 46.3 million shares at a price of CAD0.09 each, about 5.2p, to existing and new institutional and private investors.
Prior to this, the company said it entered into a strategic investment agreement with La Mancha Holdings Sarl, a private gold mining and investment company with a focus on Africa.
Under the agreement, La Mancha will subscribe for 124 million new Altus Strategies shares at 5.2 pence per share, for total of GBP6.5 million.
Altus Chief Executive Steve Poulton said: "We are delighted to close the second tranche of the placement. Since we announced the placement.
"Taking the placement and the La Mancha investment together, Altus is positioned for a transformative 2020. We are looking forward to accelerating our project and royalty generation activities, as well as securing further value accretive opportunities."
By Eric Cunha; [email protected]
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