Business
Placing of £300k and Appointment of Joint Broker
Placing of £300k and Appointment of Joint Broker.
About this update from Uru Metals Limited
[{"type":"text","content":"\n\n28 March 2025\nURU Metals Limited\n(\"URU\" or \"the Company\")\n \nPlacing to raise £300,000 and Appointment of Joint Broker\n \nThe Company is pleased to announce that it has raised £300,000 before expenses through a placing of 10,000,000 new ordinary shares of no nominal value each in the capital of the Company (the \"Placing Shares\") at a price of 3p per share (the \"Placing\"). The Placing was arranged by Axis Capital Markets Limited (\"Axis\").\n \nUse of proceeds\n \nThe Directors have undertaken the Placing to facilitate and accelerate activities at the Zebediela project. These funds will be used for:\n \n• geophysical interpretation to assist with targeting higher grade targets within Zone 1 and Zone 2, and possibly identify sulphide targets (Zone 3);\n• reinterpretation of historic drilling results; \n• establishing the ground work for a maiden NI43-101 compliant resource;\n• improving the overall grade on the historical nickel resource by targeting the geological units where there are higher nickel grades at the base of Zone 1 and within Zone 2; and\n• continuing progress towards mining rights being awarded.\n \n \nAppointment of Joint Broker\n \nAxis has subscribed for the shares on behalf of its clients. URU has appointed Axis as joint broker to the Company with immediate effect.\n \n \nAdmission and Dealings of the Shares\n \nThe Placing Shares will be issued as fully paid and will rank pari passu in all respects with the existing ordinary shares of the Company, including the right to receive dividends and other distributions declared on or after the date on which they are issued.\n \nApplication will be made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM at 8.00 a.m. on or around 3 April 2025.\n \n \nTotal Voting Rights\n \nFollowing admission of the Placing Shares, the Company's issued share capital will be 51,167,275 Ordinary Shares. This figure of 51,167,275 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company.\n \n \nCEO John Zorbas commented: \"A...