7th Oct 2014 07:02
LONDON (Alliance News) - Hummingbird Resources PLC Tuesday said it has raised GBP1.8 million via a private placement, with the funds to be used for general corporate purposes.
The gold exploration and development company, which has assets in Mali and Liberia, said it raised GBP1.8 million through the placement of 4.1 million shares at 45 pence per share.
Shares in Hummingbird closed on Monday at 37.5 pence. It is up 7.7% at 40.40p at the open Tuesday.
The company has placed the shares with Exploration Capital Partners 2000 LP, an investment fund managed by Resource Capital Investment Corp, part of the Sprott Group.
The placement of the shares gives the Exploration Capital fund a 4.8% stake in Hummingbird.
By Sam Unsted; [email protected]; @SamUAtAlliance
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