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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