Business
Proposed fundraise through Teathers App
Proposed fundraise through Teathers App.
About this update from Corcel Plc
[{"type":"text","content":"\n \nRNS Number : 7230C Regency Mines PLC 24 January 2018 \n\n \nREGENCY MINES PLC \n(\"Regency Mines\" or the \"Company\")\nProposed Fundraise Through Teathers App\n \n24 January 2018 \nRegency Mines announces that it proposes to raise £100,000 (the \"proposed fundraise\") through the Teathers mobile application (the \"Teathers App\"). This will involve the issue of up to 18,181,818 new ordinary shares of 0.01p each at a price of 0.55p per ordinary share on the same terms as described in the \"Business Update, Strategic Financing and Director Participation\" announcement of 11 January 2018, together with 1 for 1 warrants exercisable at a price of 1p for twenty-four months. The warrants have an accelerator for conversion in that the company can compel conversion of the warrants within the exercise period in the event that the volume weighted average price of Shares equals or exceeds 3.5p for ten consecutive business days. Only onboarded users of the Teathers App will be able to participate in the proposed fundraise.\n \nThe proposed fundraise will commence at 0800 Wednesday 24 January and will close at 0800 on Monday 29 January 2018 unless closed earlier. \n \nNote that any applications may be subject to scale back. If this occurs it will be applied pro rata on the basis of application size. The Company also reserves the right to increase the size of the raise in the event of over-subscription.\n \nAndrew Bell, Regency Chairman, states: \"Twice before we have given an opportunity for qualified shareholders and investors to participate through the Teathers App on the same terms as a placing conducted at that time. Once again we have been made aware of significant demand that we should do this again, and we are pleased to widen the opportunity for investor participation by a small additional fundraise.\" \n \nBackground Information\n \nRegency Mines is a natural resource exploration and development company with interests in nickel/cobalt and hydrocarbons, and in the production of metallurgical coal. \n \n· Regency is rebranding its nickel/cobalt and related assets as a battery metals function in recognition of the Company's position in these mineral resources to be used in EV batteries and related energy technologies...