Zincox Resources Plc Share News (ZOX)

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ZincOx Resources Raises GBP300,000 In Share Placing (ALLISS)

Fri, 17th Jun 2016 07:38

LONDON (Alliance News) - ZincOx Resources PLC on Friday said it has raised funds to boost its finances and allow it to pursue potential deals,

The company said it has raised GBP300,000 through the placing of 30 million shares at 1 pence each. Shares in ZincOx were trading up 20% at 0.7650p on Friday morning.

The zinc recycling company said the proceeds will be used for working capital purposes and to allow the company to pursue any potential investment opportunities.

The group also said Simon Hall, its finance director, has stepped down as part of its push to cut costs. He will be replaced by an interim finance director in due course.

"This placing gives the company the wherewithal to evaluate various exciting opportunities using our extensive metallurgical expertise," Chairman Rod Beddows said in a statement.

By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews

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