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Regency Mines raises £300,000 in placing to institutional investor

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Regency Mines (LON:RGM) said it has placed 5 million new shares to a single institutional investor at a price of 6.0 pence each for £300,000 before expenses.

At the end of November Regency entered into a loan agreement with YA Global Master SPV, advised by Yorkville Advisors LLC to finance its investment in Oracle Coalfields (PLUS:ORCP). The £1 million investment in Oracle was announced on November 12. Regency Mines said it was buying 18.5 million shares for 5.5 pence each to take a 10.4% stake in the business.

Also at the end of November, the company announced it had invested A$3 million into Direct Nickel Pty (DNi) as part of its joint venture to develop the Mambare lateritic nickel-cobalt project in Papua New Guinea.

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Price: 1.075 GBX

LSE:CRCL
Market: LSE
Market Cap: £1.99 m
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