(Alliance News) - Panther Metals PLC on Friday said it has raised GBP300,000 through the issue of 3 million shares at 10 pence each.
The placing shares represent around 5.5% of its share capital prior to the placing.
Shares in the mineral exploration company were trading 8.4% lower at 10.08p each midday Friday in London.
"Our ability to conduct this raise at no discount to market demonstrates the support we have from our investor base as we continue to grow the value of Panther and continue to progress and expand on our highly prospective Australian and Canadian asset base. The funds build on our working capital base to support our exploration activities well into next year," said Chief Executive Darren Hazelwood.
Following admission, Panther Metals will have 57.1 million shares in issue.
By Ife Taiwo; ifetaiwo@alliancenews.com
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Panther Metals (PALM)