StockMarketWire.com - Natural resources investor Contango said it had raised £1.4m through a conditional equity placing.
The company placed 28m shares at 5p a share.
Following the completion of the conditional placing, the company said it now anticipated being in a position to shortly issue a final prospectus setting out details of its previously announced purchase of the Lubu Coalfield from Consolidated Growth.
Shareholder approval would be sought for the placing and the transaction at a general meeting, expected to be held in February.
Story provided by StockMarketWire.com
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