Harvest Minerals Ltd (AIM:HMI, OTC:HMIFF) shares crashed by 45% after it raised £425,000 at 1p per share while also paying off £575,000 owed to directors through new equity.
New cash raised will fund work to delineate rare earth elements at its Arapua project in Brazil and to provide working capital for sales of KP Fertil, its fertiliser product.
The shares dropped 0.95p to 1.1p.