Corcel PLC - natural resources explorer and developer focused on battery metals - Says it will raise GBP300,000 from exercise of 23.1 million warrants at 1.3 pence per share. Corcel also agrees GBP500,000 loan facility with 8% coupon, maturing April 2022 and issues 45.0 million warrants as part of loan facility.
Chief Executive Officer, Scott Kaintz comments: "The retirement of the February 2021 loan facility and the installation of a larger note provides supportive ongoing access to capital for Corcel as it continues to advance its battery metal interests in Australasia and Canada as well as its flexible energy storage and production projects in the UK. It is excellent to see our strategy beginning to show clear and tangible results, and we thank our lenders and all stakeholders for their ongoing support."
Current stock price: 2.12 pence
Year-to-date change: up 97%
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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Corcel (CRCL)