15th Apr 2019 15:22
LONDON (Alliance News) - Regency Mines PLC has raised GBP240,000, it said Monday, as it begins a review of all of its assets.
Regency placed 400.0 million new shares at a price of 0.06 pence each, with shares untraded on Monday at a price of 0.06p each. It will also attach a warrant to each share exercisable at 0.10p.
Some GBP20,000 worth of the placing cash has been allocated to Red Rock Resources PLC to settle some debts.
"After several months of disruptions, this placing, alongside significant modifications to our loan facility and associated lock-ups, put the company on an even keel and allow it move forward in its process of conducting a strategic review of its operations," said Director Scott Kaintz.
"We will commence a detailed analysis of our assets and overarching strategy, and we expect to announce additional board members during this period. We appreciate the support of many long-standing Regency investors and stakeholders as we continue to move the business onward."
Regency has interests in coal in the US, an 8.9% stake in UK-listed oil and gas firm Curzon Energy PLC, as well as the Mambare nickel and cobalt project in Papua New Guinea.
Related Shares:
RGM.L