Business
ADMISSION TO TRADING ON AIM, FIRST DAY OF DEALINGS
ADMISSION TO TRADING ON AIM, FIRST DAY OF DEALINGS.
About this update from Cornish Metals Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 1799P\n Cornish Metals Inc.\n 16 February 2021\n \n \n \n \n CORNISH\n \n METALS\n \n \n \n CORNISH METALS ANNOUNCES ITS ADMISSION TO TRADING ON AIM, CLOSING OF THE £8.2 MILLION FUNDRAISING & FIRST DAY OF DEALINGS\n \n \n \n \n \n February 16, 2021 \n \n \n \n Cornish Metals Inc.\n \n (TSX-V/AIM: CUSN) (\"Cornish Metals\" or the \"Company\"), a mineral exploration and development company focused on its projects in Cornwall, United Kingdom, is pleased to announce the following:\n \n \n · \n Admission of its Common Shares (\"Common Shares\") to trading on the AIM Market of the London Stock Exchange (\"AIM\") (\"Admission\"); \n \n \n · \n Dealings will commence at 08:00am GMT today, Tuesday, 16 February 2021, under the ticker \"CUSN\" (ISIN: CA21948L1040). The Company's Common Shares will continue to be listed and traded on the TSX Venture Exchange (\"TSX-V\") in Canada;\n \n \n · \n Closing of the oversubscribed £8.0 million\n placing of Common Shares with \n institutional and other professional \n investors (the \"Placing\")\n through SP Angel Corporate Finance LLP (\"SP Angel\") and H&P (Advisory) Ltd (\"Hannam & Partners\");\n \n \n · \n Closing of an\n additional investment of approximately £206,000 raised through an offer to high net worth investors by Minexia Limited's wholly owned platform 'NR Private Market' (\"Minexia\" and such investment, the \"Subscription\"); \n \n \n · \n A total of 117,226,572 Common Shares were issued pursuant to the Placing and the Subscription (together the \"Fundraising\") at a price of 7 pence per share (the \"Placing Price\") raising gross proceeds of circa. £8.2 million (approximately C$14.44 million based on the February 15, 2021 exchange rate) for the Company; \n \n \n · \n Upon Admission, the Company will have 267,145,157 shares issued and outstanding;\n \n \n · \n The proceeds of the Fundraising will be used to conduct a drill programme at the United Downs copper-tin project (\"United Downs\") to determine the resource potential of a 1,000 metre strike section of the target area, to conduct initial field work (soil sampling and geophysics and possible drill testing) on other high priority exploration targets within trucking distance of the South Crofty Mine in Cornwall, and for general working capital purposes; \n \n \n \n · \n The Company...