22nd Jul 2016 09:58
LONDON (Alliance News) - Ariana Resources PLC on Friday said it has raised GBP445,000 to back its current drilling programme at the Kiziltepe area of the Red Rabbit gold and silver project in western Turkey.
Ariana has issued 29.6 million shares at 1.5 pence per share and said the fundraising has been supported by existing and new investors. Shares in the company were down 6.4% to 1.52p Friday.
Ariana said Managing Director Kerim Sener, Executive Chairman Michael de Villiers and Chief Financial Officer William Payne have agreed to subscribe for a total of 2.1 million of the shares being issued.
By Sam Unsted; [email protected]; @SamUAtAlliance
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