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Arkle raises £0.27m to advance lithium programme
(Sharecast News) - 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.
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