Sufficient capital for 12 months22 Jun 2023 15:48
What wrong with this Bb posters, being negative when Placing done to carry out milestones over the next 12 months
31 May 2023
Alkemy Capital Investments Plc
£1.35m Fundraise and Director Participation
Alkemy Capital Investments plc ("Alkemy") (ALK:LSE) (JV2:FRA) is pleased to announce that it has completed a £1.35 million fundraise (the "Fundraise"). As part of this Alkemy has conditionally placed 657,711 ordinary shares (the "Placing Shares") at a placing price of £1.40 each (the "Placing Price") to raise gross proceeds of c.£921,000 (the "Placing"), including a £10,000 participation by Alkemy director Helen Pein. Whilst legally restricted from participating directly in the Placing at this time, Paul Atherley and Sam Quinn have also agreed to contribute though the advance of unsecured, interest free loans of £430,000 in aggregate, with such amounts expected to be applied to subscribe for new shares at the Placing Price as soon as legally permissible as set out below.
The net proceeds of the Fundraise will be used to continue to advance the Company's projects and will provide sufficient working capital for the Company over the next twelve months. The Company continues to advance discussions and negotiations with counterparties for lithium feedstock. The major shareholders of the Company have also committed to provide any additional working capital that may be required by the Company to enable it to reach this significant milestone.