27th Feb 2023 11:28
(Alliance News) - Artemis Resources Ltd on Monday said trading of its shares was halted on the Australian Securities Exchange, effective immediately, in order to undertake a capital raising bookbuild.
The miner with gold, copper and cobalt projects in Australia said the move was necessary as ASX listing rules limit the raise of issued capital to 15%.
Artemis Resources said the fundraise would go towards further exploration work across its asset portfolio, alongside general working capital purposes.
It is currently expected the trading halt will remain in place until either a further announcement or the commencement of trading on March 1, whichever occurs earlier.
Shares in Artemis Resources were up 1.1% to 0.96 pence each in London on Monday morning.
By Greg Rosenvinge, Alliance News reporter
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