Corcel plc has raised £3 million via an equity placing of 857,142,858 new ordinary shares of £0.0001 each, at a price of £0.0035 per share, from two new shareholders.
TVRs
The company said that the new investors had “decades of institutional investment experience and deep expertise in global capital markets”.
Following admission, Corcel’s total issued share capital will comprise 8,515,475,996 ordinary shares, each with one voting right.
The company does not hold any ordinary shares in treasury.
Corcel has oil and gas interests onshore Angola and Brazil, rare earth elements in Australia, and copper-nickle in Papua New Guinea.