Alien Metals Ltd (LON:UFO), a global minerals exploration and development company, has announced that, further to its announcement of 11:01 a.m. (London time), it has successfully completed and closed the Placing.
The Placing has raised, in aggregate, gross proceeds of £0.6 million through the placing of 545,454,545 new Common Shares to certain investors at a price of 0.11 pence per share. The Placing Price represents a discount of approximately 10.2 per cent. to the Closing Price of 0.1225 pence per Common Share on 31 July 2024, being the latest practicable business day prior to the publication of the Announcement.
The net proceeds of the Placing will be principally used to advance the Company’s iron ore project, and silver and precious metals project, in Western Australia and for general working capital purposes.
Admission and Total Voting Rights
Application has been made to the London Stock Exchange for admission of the 545,454,545 Placing Shares to trading on AIM. It is expected that admission will become effective and dealings in the Placing Shares will commence on AIM at 8.00 a.m. on 7 August 2024 (or such later date as may be agreed between the Company and the Bookrunner, but no later than 31 August 2024).
The Placing Shares will be issued fully paid and will rank pari passu in all respects with alien Metals’ existing Common Shares.
Following Admission, the total number of Common Shares in the capital of Alien Metals in issue will be 7,509,915,386 with voting rights. This figure 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’s issued share capital pursuant to the Company’s Articles.
Capitalised terms used but not otherwise defined in this announcement shall have the meanings ascribed to such terms in the Announcement, unless the context requires otherwise.
