LONDON (Alliance News) - Nyota Minerals Ltd Thursday said it has completed a placing of 545.5 million shares to various institutional investor clients of Smaller Company Capital Ltd at an issue price of 0.055 pence per share to raise around AUD600,000.
The funds raised will be used for working capital and to advance the company's Italian nickel project.
The placing was conditionally completed in June before being approved by shareholders at a meeting on July 9.
Following that placement, Nyota's total issued share capital has increased by 50% to 1.50 billion shares from just under under 1.0 billion shares, meaning the clients of Smaller Co Capital will hold over a third of the company.
Nyota shares were up 1.6% to 0.0457 pence per share on Thursday morning.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
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