Versarien plc (LON:VRS), the advanced materials engineering group, has announced it has raised £550,000 (before expenses) by way of a placing of 846,153,845 new ordinary shares in the capital of the Company at a price of 0.065 pence per share.
Highlights
● Versarien has raised £550,000, before expenses, through the Placing of 846,153,845 new ordinary shares in the capital of the Company at a price of 0.065 pence per share.
● The net proceeds of the Placing will be used for the purchase of concrete and mortar testing equipment to support the ongoing CementeneTM admixture developments for BS934 accreditation, and for use in testing new mortars and products developed using the Company’s 3D construction printing capability, in addition to general corporate and working capital purposes.
Use of Proceeds
The net proceeds of the Placing will be used for the purchase of Versarien’s own mortar and concrete testing systems for monitoring mechanical and durability properties, alongside providing additional funding for general corporate and working capital purposes.
