By Devika Patel
Knoxville, Tenn., Feb. 2 - European Nickel plc said it took in £12.07 million in a private placement of shares,
The company sold 172.4 million ordinary shares at 7p each. The placement is conditional, in part, on certain resolutions being passed at the company's March 29 annual general meeting.
Mirabaud Securities LLP was the broker.
Proceeds will be used to repay debt, for a forestry license annual fee and working capital purposes.
Based in London, European Nickel explores nickel deposits.
| Issuer: | European Nickel plc
|
| Issue: | Ordinary shares
|
| Amount: | £12,068,000
|
| Shares: | 172.4 million
|
| Price: | 7p
|
| Warrants: | No
|
| Broker: | Mirabaud Securities LLP
|
| Settlement date: | Feb. 2
|
| Stock symbol: | London: ENK
|
| Stock price: | 7.38p at close Feb. 2
|
| Market capitalization: | £33.2 million
|
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