Business
Placing and Subscription & Appointment of Broker
Placing and Subscription & Appointment of Broker.
About this update from Alien Metals Ltd
[{"type":"text","content":"\n \n \n RNS Number : 0904E\n Alien Metals Limited\n 25 February 2020\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Trading Symbols\n \n \n AIM: UFO\n \n \n FWB: I3A1\n \n \n 25 February 2020\n \n \n \n \n \n \n Alien Metals Ltd \n \n \n \n \n (\"Alien Metals\" or \"the Company\")\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Placing and Subscription to raise £700,000\n \n \n \n \n Appointment of Joint Broker\n \n \n \n \n \n \n Alien Metals Ltd (\"Alien Metals\" or \"the Company\"), a minerals exploration and development company, is pleased to announce that it has conditionally raised £700,000, before expenses, in a Placing and Subscription of 466,666,666 new ordinary shares (\"Placing Shares\") at a price of 0.15 pence per share (the \"Placing\"). One warrant is to be issued with every three Placing Shares, exercisable at 0.30 pence for a period of two years from Admission of the Placing Shares (the \"Placing Warrants\").\n \n \n \n \n \n Additionally, Alien Metals' Technical Director, Bill Brodie Good, has just completed a site visit to Australia, where - as previously announced - the Company is in the final stages of executing two licence interest acquisitions. \n \n \n \n \n \n \n \n \n Highlights:\n \n \n · \n \n £700,000, before expenses, raised through a Placing of new ordinary shares of no par value\n \n \n \n · \n \n Proceeds of the Placing to be utilised for high-impact exploration in Mexico and Australia:\n \n \n \n o \n \n Mexico: following finalisation of drill permit applications, commencing activities to understand strike and depth potential of known mineralised veins \n \n \n \n o \n \n Geophysics survey of Donovan 2 gold and copper targets\n \n \n \n o \n \n Australia: digital compilation of the Elizabeth Hill silver project followed by updated resource modelling\n \n \n \n · \n \n Alien Metals' Technical Director Bill Brodie Good just returned from Australia for a field visit in preparation for exploration activities\n \n \n \n · \n \n Turner Pope Investments (TPI) Limited appointed as Joint Broker\n \n \n \n \n \n \n \n \n \n THE PLACING \n \n \n \n \n \n The Company is pleased to announce that it has conditionally raised £700,000 (before expenses), through a Placing and Subscription of 466,666,...