29th Feb 2016 09:49
LONDON (Alliance News) - Rare Earth Minerals PLC on Monday said it has raised GBP3.6 million to back its lithium sector acquisition plans.
Rare Earth will issue 645.6 million shares at 0.55 pence per share, primarily to US institutional investors, to raise the funds. Shares in the company were down 15% to 0.559p on Monday morning.
Rare Earth will use the funds to back further investment in its existing portfolio and new acquisitions in the lithium sector.
By Sam Unsted; [email protected]; @SamUAtAlliance
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