Anglesey Mining plc said it had raised a total of £864,416 gross proceeds from a placing and subscription.
DEBT RESTRUCTURING
A placing of 22,829,705 ordinary shares with institutional and other investors at a price of 3.4 pence per share raised £776,210.
Chairman John Kearney and chief executive officer Jo Battershill subscribed for an additional 2,594,284 new ordinary shares at the same price, raising a further £88,206.
| Name | Amount subscribed in Subscriptions | Holding of Existing Ordinary Shares | No. of Ordinary Shares held post Admission of the Placing Shares | % of Ordinary Share Capital held post Admission of the Placing Shares |
| John Kearney | 1,297,142 | – | 1,297,142 | 0.5 |
| Jo Battershill | 1,297,142 | 2,087,688 | 3,384,830 | 1.2 |
A total of 25,423,989 new ordinary shares will be issued and a further 6,681,000 new ordinary shares issued to the company’s largest shareholder Juno Ltd in accordance with the Juno debt restructuring.
USES
Anglesey Mining will use the proceeds to advance its copper-zinc-lead-silver-gold project at Parys Mountain.
This includes infill drilling of the Northern copper zone, confirmatory metallurgical testwork, tailings storage design work, environmental and permitting activities, and general working capital.