Funds used to establish cables across the fjord at Black Angel Mine
By Devika Patel
Knoxville, Tenn., Oct. 3 - Angel Mining plc said it conditionally raised £1.2 million in a private placement of shares.
The company sold 75 million ordinary shares at 1.6p each. The per-share price is a 12.57% discount to the Sept. 30 closing share price of 1.83p.
Proceeds will be used for the remaining works program to complete the construction of the cable car upper terminal, establish the cables across the fjord at the Black Angel Mine and provide greater working capital. Proceeds will also be used for improvements to the buildings and camp infrastructure at the camp in Maarmorilik, Greenland.
Based in York, England, Angel Mining explores for gold, zinc and lead.
| Issuer: | Angel Mining plc
|
| Issue: | Ordinary shares
|
| Amount: | £1.2 million
|
| Shares: | 75 million
|
| Price: | 1.6p
|
| Warrants: | No
|
| Settlement date: | Oct. 3
|
| Stock symbol: | London: ANGM
|
| Stock price: | 1.6p at close Oct. 3
|
| Market capitalization: | £14.67 million
|
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