Arkle raises £0.27m to advance lithium programme
Updated : 09:03
Irish gold and zine explorer Arkle Resources announced on Thursday that it has raised £0.27m before expenses to advance its lithium programme.
The AIM-traded firm said it raised the funds by placing 108,000,000 new shares at a price of 0.25p each.
Each placing share included one warrant, allowing the holder to subscribe for one new share at 0.35p apiece over a two-year period.
The board said the funds generated from the placing would primarily be allocated towards Arkle’s recently-unveiled lithium exploration programme.
They would also support general corporate activities.
At 0903 BST, shares in Arkle Resources were flat at 0.29p.
Reporting by Josh White for Sharecast.com.