RE: Fair value £8-10m mcap1 May 2026 12:01
ADM Energy PLC (ADME), a natural resource investing company, announced that it has conditionally raised total gross proceeds £375,000, at a price of 0.02 pence per share. The Placing has been arranged by Capital Plus Partners Limited as sole broker to the Placing. The Fundraise has been supported by a number of existing and new investors, reflecting confidence in the Company’s momentum, strategy and expansion opportunities. It is the intention that the proceeds of the Fundraise will be deployed primarily to increase the interest of the Company in Vega Upstream JV, LLC, as announced on 29 April 2026, to approximately 35.0% through an additional capital contribution of US$300,000 to Vega Upstream JV and for working capital purposes of the Company.
Comment: It is good to see our friends at Capital Plus Partners raise a decent chunk of change for ADM. That said, we now perhaps know why there was a spike in ADM shares in recent days. Ideally this raise is enough to get the company moving along significant milestones for once.