Arkle Resources plc has raised £270,000 before expenses via a placing of 108,000,000 new ordinary shares at a price of 0.25p per share.
DIRECTORS
Each placing share has one warrant attached with the right to subscribe for one new ordinary share at 0.35p for a period of two years.
Proceeds will be used for lithium exploration and general corporate activities.
Chairman John Teeling subscribed for 10 million shares and now holds 41,947,202 shares equal to 9.2% of the enlarged capital.
Non-executive director David Cockbill subscribed for 6m shares and now has 13,435,408 (2.34%).
Following admission, Arkle’s enlarged issued share capital will comprise 564,810,997 ordinary shares. The company holds no shares in treasury.