LONDON (Alliance News) - Amur Minerals Corp said Tuesday that it is currently in talks with a potential funding partner which may or may not result in a subscription agreement, which if agreed, would lead to a cash investment of up to GBP12.5 million.
Amur is a nickel-cooper sulphide mineral exploration and resource development company focused on the far east of Russia.
This GBP12.5 million would be spread over 5 share subscriptions of GBP2.5 million each, with a 90 day interval between each subscription, under which it would issue shares at the closing price of its shares on the trading day prior to the issue.
Amur said that it would expect to issue three warrants to subscribe for shares for every four new shares it issued under the subscription agreement.
Amur plans to make a further announcement as soon as it concludes discussions with the potential investor, who was not disclosed.
Shares in Amur closed up 33% at 11.00 pence Tuesday.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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Amur Minerals (AMC)