7th Oct 2019 14:29
(Alliance News) - Karelian Diamond Resources PLC said Monday it has raised GBP50,000 through a subscription by shareholder Martello Holdings Ltd, the proceeds of which will go towards working capital purposes.
The diamond miner issued 1.4 million shares at a price of 3.5 pence per share, which reflects a 6.1% premium to the closing price of 3.3p on Friday last week.
Shares in Karelian Diamond were down 1.8% at 3.24 pence on Monday in London.
Following the issue, Martello now holds 3.9 million shares in Karelian, reflecting a 9.8% stake, while the group itself now has 40.0 million shares issued overall.
By Dayo Laniyan; [email protected]
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