Alkemy Capital Investments plc (LON:ALK) has announced that it has raised £650,000 in an oversubscribed placing of 650,000 new ordinary shares at a placing price of £1 per share, being the total amount available under the Company’s existing share authorities.
This includes a subscription of £50,000 of shares at the placing price from director Sam Quinn.
The net proceeds will be used to further the development of TVL’s lithium hydroxide processing facility in Teesside, UK and for general working capital purposes ahead of the company seeking to secure mezzanine financing for that facility, without diluting Alkemy’s shareholders.