21st Oct 2015 10:30
LONDON (Alliance News) - Mariana Resources Ltd on Wednesday said it has raised about GBP1.8 million through a share placing.
The money will be used for the company's Hot Maden development project, its Nassau exploration project in Suriname, and for general working capital purposes.
Mariana will issue 88.3 million new shares at 2.00 pence each. It has also issued one warrant for every two shares subscribed at a strike price of 3.00 pence with an 18-month expiry.
Shares in Mariana were down 4.0% at 2.03p on Wednesday late morning.
"This placing has considerably strengthened our share register. Globally leading resource focused institutions have led this placing, critical for supporting the future development of Hot Maden. With this placing, RCF Capital Fund has become a significant shareholder of Mariana with a holding of around 3.76%. We look forward to working with our new shareholders," Chief Executive Glen Parsons said in a statement.
By Samuel Agini; [email protected]; @samuelagini
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