Alien Metals Ltd (LON:UFO), a global minerals exploration and development company, has announced that, further to its announcement of 11:01 a.m. (London time), it has successfully completed and closed the Placing.
The Placing has raised, in aggregate, gross proceeds of £0.6 million through the placing of 545,454,545 new Common Shares to certain investors at a price of 0.11 pence per share. The Placing Price represents a discount of approximately 10.2 per cent. to the Closing Price of 0.1225 pence per Common Share on 31 July 2024, being the latest practicable business day prior to the publication of the Announcement.
The net proceeds of the Placing will be principally used to advance the Company’s iron ore project, and silver and precious metals project, in Western Australia and for general working capital purposes.
Admission and Total Voting Rights
Application has been made to the London Stock Exchange for admission of the 545,454,545 Placing Shares to trading on AIM. It is expected that admission will become effective and dealings in the Placing Shares will commence on AIM at 8.00 a.m. on 7 August 2024 (or such later date as may be agreed between the Company and the Bookrunner, but no later than 31 August 2024).