Cadence Minerals plc said it had raised gross proceeds of £4.1 million in a “significantly” oversubscribed fundraising.
PLACING AND SUBSCRIPTION
A total of 19,512,180 placing shares in the company have been placed with new and existing investors at a price of 20.5 pence per share.
In addition, Cadence has secured a further £0.1 million via a direct subscription of 487,805 shares at the issue price.
The company added that the fundraise drew support from existing shareholders and new investors, including institutional investors.