Altus Strategies plc announced it had conditionally raised £7.7 million (CA$13.35m) before expenses by way of an oversubscribed placing and subscription of 10,266,668 new ordinary shares at an issue price of £0.75 per share.
Altus has a balance sheet of £12.5m in cash and £1.5m in listed equities.
The company said the fundraising had attracted existing and new institutional, family offices and private investors.
Strategic investor La Mancha had subscribed for 35.43% , and Altus directors and Persons Discharging Managerial Responsibilities (PMDRs) also participated.
| Director | Position | New Ordinary Shares being subscribed | Shareholding following Admission | % holding following Admission |
| Steven Poulton | CEO & Director | 37,061 | 5,757,061 | 7.16 |
| Matthew Grainger | Executive Director | 13,333 | 2,098,899 | 2.61 |
| Alister Hume | Business Development | 7,000 | 7,000 | 0.01 |
| Richard Belcher | VP Exploration | 6,666 | 6,666 | 0.01 |
| Will Slater | VP Operations | 6,000 | 222,104 | 0.28 |