Clontarf Energy plc raised £350,000, before expenses, via a placing and subscription for a total 437,500,000 new ordinary shares each of 0.01p at a price of 0.08p per placing share.
The shares represent approximately 8.42% of the company’s issued share capital as enlarged by the fundraise.
Following admission, Clontarf will have 5,193,326,117 ordinary shares in issue each with one voting right.
USES
The company said that net proceeds would advance its lithium projects in Bolivia and neighbouring countries, as well as on petroleum projects in Ghana, Australia and “elsewhere”.