22nd Mar 2021 13:53
Altus Strategies PLC - Africa-focused mining royalty company - Raises GBP7.7 million in "oversubscribed" share placing and subscription to accelerate gold exploration programmes in Egypt and Mali. Notes the placing and subscription was for 10.3 million shares at an issue price of 0.75 pence. Says company directors and private investors participated in the fundraising, including Chief Executive Steve Poulton who subscribed for 37,061 shares, representing a 7.2% stake.
"The fundraising was cornerstoned by our strategic shareholder La Mancha, subscribing pro-rata to its 35% shareholding. Following the completion of the fundraising, Altus has a strong balance sheet, comprising approximately GBP12.5 million, or CAD21.6 million, in cash and GBP1.5 million, or CAD2.6 million, in listed equities," says Poulton.
Current stock price: 82.00p
Year-to-date change: up 5.8%
By Zoe Wickens; [email protected]
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