6th May 2016 07:55
LONDON (Alliance News) - Metminco Ltd on Friday said it has raised AUD600,000 through the issue of shares to its Australian-domiciled shareholders.
The company said its offer to shareholders in Australia resulted in the group issuing 151.8 million shares at 0.4 Australian cents, or 0.21 pence. Metminco shares were untraded on Friday morning, having last traded at 0.2p.
Metminco also said it received notice of an option exercise of 1.2 million options, raising AUD6,618.
The funds from the offer and the option exercise will be put towards completing the company's acquisition of Minera Seafield SAS, owner of the Quinchia gold project in Colombia.
By Sam Unsted; [email protected]; @SamUAtAlliance
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