Eurasia Mining PLC (LON:EUA), a platinum group metals and gold producer, said it completed a private placement yesterday, raising about US$20mln to finance the joint venture with Rosgeo.
On May 20, the company announced a private placement of 53.3mln shares and warrants to a single institutional investor at the market price of 26.5p per share and associated warrant, for gross proceeds of £14.1mln or about US$20mln.
H.C. Wainwright & Co. acted as the exclusive placement agent in the US for the financing.
"The directors are delighted to close yet another important transaction following the successful completion of the Rosgeo JV announced on 26 March 2021 that both put Eurasia in an even stronger position,” said executive chairman Christian Schaffalitzky.
READ: Eurasia Mining boosts Russian footprint with new joint venture
“The board is pleased that the institutional investors are recognising the fundamentals of the company,” he added.