26th Nov 2013 12:47
(Correcting day in last paragraph.)
LONDON (Alliance News) - Herencia Resources PLC Tuesday said it has received GBP620,000 in first-tranche funding from Shining Capital Management.
The Chile-focused mineral exploration and development company said the equity investment was priced at 0.62 pence per share, with 100 million Herencia shares being issued to Shining Capital.
The company said due diligence work in relation to the much-larger second tranche of GBP1.9 million has commenced. Once completed, Shining Capital is expected to subscribe for a further 300 million shares at the same price.
Herencia Resources shares were down 1.2% at 0.573 pence Tuesday afternoon.
By Tom McIvor; [email protected]; @TomMcIvor1
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