Alien Metals Ltd (LON:UFO), a global minerals exploration and development company, is pleased to announce that the Company has raised gross proceeds of £630,000 (before expenses) though a placing of 466,666,667 new common shares of no par value in the Company at a price of 0.135 pence per share. The Placing Shares equate to approximately 6.7% of the Company’s issued share capital as enlarged by the Placing.
The net proceeds of the Placing will be principally used to advance the Company’s iron ore project, silver and precious metals project in Western Australia and for general working capital purposes.
Appointment of Joint Broker
CMC Markets UK Plc, trading as CapX, acted as the Company’s sole placing agent in respect of the Placing and has been appointed as joint broker to the Company.