IronRidge Resources Ltd (LON:IRR) announced it has issued and allotted 32mln new ordinary shares as part of a block listing announced in September and raised £3.6mln through the exercise of warrants.
Because no further new ordinary shares will be allotted, the block listing is cancelled, the iron ore company said.
READ: IronRidge Resources completes full acquisition of Saltpond and Cape Coast
Further to its announcement in January notifying a call on warrant holders to exercise 32mln warrants at 12p per share, the AIM-listed firm noted that all holders elected to exercise the fundraise warrants.
As a result, no shares have been issued to either Open Source Capital Ltd, Alberona Pty Ltd, which is controlled by chief executive Vincent Mascolo, or chairman Neil Herbert under the underwriting agreement entered into by the company and the above parties.
Following the issue and allotment of the warrant exercise shares, the miner’s new issued share capital comprises 452mln ordinary shares.
Shares rose 2% to 22.62p on Monday at the opening bell.