20th Aug 2015 07:23
LONDON (Alliance News) - Atlantis Resources Ltd Thursday said it has raised GBP2.5 million after conducting a placing and said its results for the first half of 2015 should be in line with expectations.
The company placed just under 6.0 million new shares in the company at 42.0 pence per share and the proceeds will be used to "fund project development activities across the Atlantis portfolio and to secure opportunities for portfolio growth," it said.
Atlantis shares were trading up 1% to 45.44 pence per share on Thursday morning.
Atlantis is expected to report its first half results before the end of September, but said its performance is "in line with expectations".
"We are very pleased with the continued support of our shareholders demonstrated through this successful placing. The funds raised will allow us to replicate our success at the MeyGen project and bring other opportunities to fruition around the UK," said Chief Executive Tim Cornelius.
By Joshua Warner; [email protected]; @JoshAlliance
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