Altus Strategies plc has conditionally raised £7.7 million via an “oversubscribed” placing and subscription of 10,266,668 new ordinary shares at an issue price of £0.75 per share.
The company said the fundraising had attracted existing and new institutional, family offices and private investors with strategic investor La Mancha subscribing for 35.43%.
Altus chief executive and director Steven Poulton subscribed for 37,061 new ordinary shares, taking his total to 5,757,061, representing a 7.16% holding following admission.
Executive director Matthew Grainger subscribed for 13,333 shares (2,098,899; 2.62%); business development Alister Hume 7,000 shares (0.01%); VP exploration Richard Belcher 6,666 (0.01%); and VP operations Will Slater 6,666 (222,104, 0.28%).
Altus is a project and royalty generator focused on Africa.