Equity Raise
Richmond Hill raises £289,100 via placing of 44.5m shares at 0.65p per share.
- Funds raised £289,100
- New ordinary shares issued 44,476,928
- Issue price per share £0.0065
- Total issued shares after admission 104,649,639
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Richmond Hill Resources PLC (AQSE: SHNJ), is pleased to announce a placing to raise £289,100 via Clear Capital Corporate Broking with the issue of 44,476,928 new ordinary shares in the Company at a price of £0.0065 per share. Funds will be used for general working capital purposes and the identification and due diligence on natural resources projects.
Admission to AQSE Growth Market
Application will be made for the 44,476,928 new ordinary shares to be admitted to trading on the Aquis Growth Market ("Admission"). It is expected that Admission of the new ordinary shares will become effective on or around 8.00 a.m. on or around 3 April 2025. The new ordinary shares will be issued credited as fully paid and will rank in full for all dividends and other distributions declared, made or paid after Admission and will otherwise rank on Admission pari passu in all respects with the existing ordinary shares.
Total Voting Rights
Following Admission, the Company's issued share capital will comprise 104,649,639 Ordinary Shares with voting rights. The Company does not hold any Ordinary Shares in treasury. The figure of 104,649,639 Ordinary Shares may therefore be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
Hamish Harris of Rogue Baron, commented:
"Its very pleasing to announce an equity raise not only of a larger amount but also at a premium to the last placing. The Company continues to do due diligence on the Saint Sophie project and expects to be able to make a decision on whether to proceed with the proposed transaction by the end of April 2025. With the strong rally in copper prices of late, the board believes its recent change in strategy bodes well for the future creation of shareholder value."
The Directors of the Company accept responsibility for the contents of this announcement.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.