30th Jan 2014 09:02
LONDON (Alliance News) - Aminex PLC Thursday said it plans to raise GBP8 million through a placing of 800 million shares and a further GBP2 million through an open offer for a further 204.6 million shares.
It said it will also undertake a debt for equity swap of about GBP0.75 million with certain creditors at the same time.
The funds will be used to strengthen Aminex's financial position so it can progress its Tanzanian assets while it seeks options for a larger programme of drilling and seismic surveying at its three assets in the country.
Aminex shares were down 17.1% at 1.053 pence early Thursday. The placing and open offer will be conducted at 1.0 pence a share.
By Steve McGrath; [email protected]; @SteveMcGrath1
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