11th Jun 2018 11:29
LONDON (Alliance News) - Kodal Minerals PLC said Monday it raised GBP1.5 million through a share subscription and placing to advance the exploration at the Bougouni lithium project in southern Mali.
The West Africa-focused mineral exploration and development company issued 1.15 billion shares at 0.13 pence each. After the placing, the company's total issued share capital will amount to 6.75 billion shares, meaning the new shares represent 17% of the enlarged total.
Suay Chin International Pte Ltd subscribed GBP1.2 million for 923.1 million shares. On completion of the subscription, Suay Chin will own 2.2 billion shares representing 29.0% of Kodal's issued share capital.
Kodal shares were trading 5.5% lower at 0.14p each on Monday.
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Kodal Minerals