Altona Energy Plc - Update on Fund Raise
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The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 (“MAR”). Upon the publication of this announcement via a Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.
ALTONA ENERGY PLC
(“Altona” or “the Company”)
EXTENSION OF FUND RAISE
Altona (AQSE: ANR.PL), a mining exploration company with a new strategic focus on Rare Earth Element (“REE”) mining projects in , announces that it has agreed to extend the current fund raise until Wednesday , due to ongoing investor interest.
As announced on 24 September, the Company is looking to raise up to £500,000 at a price of per share, representing a discount of 32% to the current suspended share price of . The Company will also issue warrants at , with one warrant being issued for every two Altona Ordinary Shares subscribed for, with an expiration date of .
The fund raise is being hosted on NR Private Market (), the innovative private investment platform for sophisticated and high net worth investors, and is open to all existing shareholders and non-holders.https://www.nrprivatemarket.com
The capital will be used primarily to commence an initial exploration drilling programme on two of the African Rare Earth projects the Company is in the process of acquiring. These acquisitions will be paid for using Altona ordinary shares, thereby freeing up cash for operational activities. The funds will also be used to complete final legal due diligence on the acquisitions and for working capital purposes. The Company is expectant that it will shortly be in position to acquire a third Rare Earth mining project, also in , in which it is in advanced negotiations with the current owner.
For further information, please visit or contact:www.altonaenergy.com
Altona is a mining exploration company focused on the evaluation, development and extraction of Rare Earth Element (REE) metals.
The Company was admitted to trading on AIM on and was subsequently admitted to Aquis Stock Exchange (previously NEX) on . A copy of its Admission documents dated can be accessed on its website, . This website is where items can be inspected under Rule 75 of the Aquis Rules for Issuers, from .
Information on Minexia and NR Private Markets
Minexia is a fin-tech business which has been in development for four years and launched its investment platform, in Q1 2019, which allows private investors ('Sophisticated' or 'High ') to access a pipeline of high quality, pre-screened, advanced exploration and or early stage development mining projects. The platform has successfully closed six deals (total value c. £10M) to date and has secured a dozen platform partners and 6,000+ active platform users.NR Private Market
Altona Energy plc , Interim CEO +44 (0) 7795 168 157 , Non-Executive Director +61 (0)402 440 339 Alfred Henry Corporate Finance Ltd (Aquis Corporate Adviser) / +44 (0) 20 3772 0021 Leander (Financial PR) +44 (0) 7795 168 157
Christian Taylor-Wilkinson Philip Sutherland Jon Isaacs Nick Michaels
Quick facts: Altona Energy
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