26th Oct 2021 18:03
Europa Metals Ltd - European-focused lead-zinc and silver developer - Says it has raised GBP1.5 million via share placing and subscription.
Earlier Tuesday, the company's shares fell to a 12-month low after announcing the share placing and a subscription. Europa said it will issue up to 30 million new shares at 5.00p a share with institutional and other investors. This is a 42% discount to Monday's closing price of 8.60p. Europa will use the proceeds to pursue further projects and acquisition opportunities, the company says.
The fundraising comprises a placing and subscription of shares in two tranches. The first fundraising shares are expected to be admitted to trading on AIM around November 1, while the second set are expected to be admitted on or around December 1.
WH Ireland was acting as bookrunner for the placing.
Current London stock price: 6.00 pence, having closed down 30% on Tuesday
Year-to-date change: down 29%
Current Johannesburg stock price: ZAR1.48, having closed down 11% on Tuesday
Year-to-date change: down 31%
By Will Paige, [email protected]; Updated by Greg Roxburgh, [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
Europa Metals