Versarien plc (LON:VRS), the advanced materials engineering group, has announced it has raised £454,822 (before expenses) by way of a placing of 165,389,817 new ordinary shares in the capital of the Company at a price of 0.275 pence per share.
Highlights
· Versarien has raised £454,822, before expenses, through the placing of 165,389,817 new ordinary shares in the capital of the Company at a price of 0.275 pence per share
· The net proceeds of the Placing will be used for corporate and working capital purposes, together with providing bridge finance to extend the Company’s cash runway ahead of any funds received from asset sales
· The issue of the Placing Shares is within existing authorities granted by shareholders at the general meeting of the Company held on 30 October 2023 and therefore no shareholder approval is required for the Placing