Altona Rare Earths plc has raised £344,500 via a subscription for 9,630,000 new ordinary shares of one pence each, at 3.6p per subscription share, and the transfer and exercise of warrants.
TVRs
The warrants were over 40.5 million ordinary shares, at an exercise price of one pence each.
Existing shareholders participated in the fundraise, which adds to the £507,450 raised on the 15 August, taking the total to £851,950.
The company said that the blended price of each new share issued is 1.5p, calculated by dividing the proceeds of the fundraise by the number of the new shares.
Following admission of the new shares and those from the 15 August fundraise, Altona’s enlarged share capital and total voting rights will comprise 229,064,306.
The company holds no shares in treasury.
Altona’s main asset is the Monte Muambe rare earths-fluorspar-gallium project in Mozambique and the Sesana copper-silver project in the Kalahari copper belt, Botswana.