Anglesey Mining plc has raised £500,000 via a placing of 33,333,329 new ordinary shares with certain institutional and other investors at a price of 1.5 pence per share.
JUNO LIMITED
Majority shareholder Juno Ltd converted debt for equity by subscribing for up to 6,950,000 new ordinary shares, capped at pro-rata ownership level.
Following the placing, Anglesey Mining’s debt has reduced from £3,518,000 million to £3,413,750m while Juno’s shareholding increases from 20% to 20.5%.
Each placing share has one investor warrant.
On admission, the total number of ordinary shares in the capital of the company in issue will be 420,093,017 with voting rights.
USES
Proceeds will help start drilling of the Northern Copper zone at Parys Mountain and advance the permitting and environmental impact and social assessment of the project.
Funds will also go towards starting baseline studies for the Grängesberg iron ore mine and general working capital purposes.