(Alliance News) - Keras Resources PLC on Wednesday said it has raised a total of GBP310,000 through the placing of 206.7 million shares at 0.15 pence per share.
The mineral resource company said the proceeds will be used to fast-track infrastructure development at the Nayega manganese project in northern Togo, held through its 85%-owned subsidiary Societe Generale de Mines SA.
Following admission of the placing shares, Keras will have around 2.8 billion shares in issue.
In a separate statement, the company said it has appointed Shard Capital Partners LLP as a joint broker effective immediately, joining SP Angel Corporate Finance LLP.
Shares in London-headquartered Keras were up 3.5% at 0.16 pence each on Wednesday in London.
By Ife Taiwo; ifetaiwo@alliancenews.com
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Keras Res (KRS)