15th Jul 2021 17:57
All Star Minerals PLC - Haywards Heath, England-based mining services investor - Raises GBP110,000 through placing of 550.0 million shares at a price of 0.02 pence per share.
Company also raises GBP146,700 in offer for subscription for 733.5 million shares at issue price, while 270.0 million shares have been converted by directors into GBP54,000 relating to outstanding fees and remuneration.
Net proceeds will go towards undertaking due diligence required on a deal to acquire two separate mining projects.
"We are delighted to have raised the funds required to advance our level of interaction with, and due diligence on, the companies where we have signed HoT. Both companies present exciting opportunities, especially against the background of a recovering gemstone and diamond market, which is seeing a steady increase in demand and achievable pricing. The funds raised will afford All Star Minerals the opportunity to make considerable headway in the near term and significantly improve its level of focus and direction," says Interim CEO Ian Harebottle.
All Star Minerals now has 4.47 billion shares issued overall.
Current stock price: 0.0375
Year-to-date change: down 6.3%
By Dayo Laniyan; [email protected]
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