Arkle raises £0.27m to advance lithium programme

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.