26th Mar 2019 12:40
LONDON (Alliance News) - Cadence Minerals PLC said on Tuesday that it has raised GBP1.3 million through a placing to fund of initial exploration of its Australian assets.
Cadence issued 866.7 million shares at a price of 0.15 pence per share, representing a 21% discount to the closing price of the company's shares on Monday, which were priced at 0.19 pence.
Shares of Cadence Minerals traded 24% lower at 0.14 pence on Tuesday.
The mineral resource investment strategy & development firm plans to use the funds raised for the initial exploration on the Australian lithium assets it acquired on March 4, which covers the Picasso, Litchfield and Alcoota projects.
Admission is expected to occur on or around April 08. Following admission, the company will have 8.7 billion shares in issue overall.
Related Shares:
Cadence Mineral