LONDON (Alliance News) - Minerals processing company BMR Group PLC on Friday said it has raised GBP395,200 through the placing of 9.3 million shares at 4.25 pence each.
Shares in BMR were trading down 11% at 5.02 pence at the open on Friday.
Each placee will also receive for each share subscribed a warrant to subscribe for a further share at 7.0p each in the 42 days following the release of BMR's full-year results for the year ending June 30.
The proceeds of the placing will be used to provide additional working capital for BMR's proposed tailings processing operations in Kabwe in Zambia.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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