Oscillate PLC chief executive Robin Birchall said he's delighted to have secured additional funding, after a retail share sale via the Winterflood-operated WRAP topped up an equity raise that comes as the explorer prepares its move onto AIM.
The WRAP raise brings Oscillate's overall new funding to around £2.95 million, with proceeds earmarked to support exploration in Africa.
Chief executive Robin Birchall said retail investors were “valuable” to the company and said the additional backing would help it advance plans across Namibia, Botswana and Côte d'Ivoire, where Oscillate is seeking to build a copper and future-metals exploration and development business.
"We are delighted to have received this additional funding support. Retail shareholders are valuable to us, which is why it was important that we included a retail offer as part of the fundraise," Birchall said.
"We look forward to putting these funds to good use as we seek to prove the potential value of our prospective exploration tenements in Namibia, Botswana and Côte d'Ivoire. We would like to thank all participants for supporting our plan to create a mid-cap copper and future-metals exploration and development group."
The WRAP raised amounted to £33,787, with some 50,167 new shares priced at 22.5p each.