Proceeds slated for drilling and exploration at Pallas Green project
By Devika Patel
Knoxville, Tenn., April 4 - Minco plc said it raised £1.29 million in a private placement of shares.
The company sold 24,654,857 ordinary shares at 5.25p each. The per-share price represents an 8.7% discount to the April 3 closing share price of 5.75p.
Proceeds will be used, in part, for ongoing exploration and drilling activities at the Pallas Green zinc-lead exploration project and for working capital.
Minco is a precious and base metals exploration and development company based in Dublin.
| Issuer: | Minco plc
|
| Issue: | Ordinary shares
|
| Amount: | £1,294,380
|
| Shares: | 24,654,857
|
| Price: | 5.25p
|
| Warrants: | No
|
| Settlement date: | April 4
|
| Stock symbol: | London: MIO
|
| Stock price: | 5.5p at close April 4
|
| Market capitalization: | £18.13 million
|
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