9th Aug 2022 11:59
Marechale Capital PLC - London-based investor in consumer brands and mineral extraction companies - Completes fundraise of equity for Weardale Lithium Ltd, in which it owns a 8.5% stake. Fundraise for the lithium exploration and development company is "at a significantly higher valuation to the successful fund raising last year," Marechale explains.
"In the current climate, and as we look towards the future, there is a clear appetite for companies which are integral to the green transition, and we are pleased to have assisted Weardale as it advances its lithium brine projects in the North East of England," says Marechale Chief Executive Officer Patrick Booth-Clibborn.
Marechale remains "confident in the potential uplift value for Marechale shareholders in Weardale Lithium, as well as our other clean energy, technology and hospitality investments," Booth-Clibborn adds.
Current stock price: 2.51 pence, up 20% on Tuesday
12-month change: up 48%
By Tom Budszus; [email protected]
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