Beowulf launches discounted £7.3m equity raise to fund project developments

Empire Metals says drilling confirms further signs of gold at Eclipse project

Empire Metals says drilling confirms further signs of gold at Eclipse project

StockMarketWire.com – Mining company Beowulf said it would conduct an open offer to shareholders to raise up to approximately £7.3 million at a deep discount. The company would also receive a further conditional subscription of 88,800 new shares to raise £2,806.

The equity offering up to 225,841,752 shares to shareholders at a price of at 3.16 pence per share, represented an approximately 35% discount to the theoretical ex-rights price based on closing price per share of SEK 0.370 on 5 November 2020.

The capital raising is ‘intended, first and foremost, to further develop the company’s projects, while supporting its tightly managed corporate overheads,’ Beowulf said.

At 8:58am: [
LON:BEM] Beowulf Mining PLC share price was -0.63p at 4.88p

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