(“Altona” or “the Company”)
RESTORATION TO TRADING ON AQUIS STOCK EXCHANGE
RESULT OF FUND RAISE AND ISSUE OF EQUITY
Altona (AQSE: ANR.PL), a mining exploration company with a focus on Rare Earth Elements (“REE”) mining projects in
1. The Company has raised £138,459.12 before expenses, through the placing of 2,130,140 new ordinary shares (“Placing Shares”) at an issue price of
2. Following this allotment of 1,488,155 Placing Shares, the Company’s shares, which are currently suspended, will be re-admitted to trading on the
3. The net proceeds will be used primarily to complete its due diligence on the two acquisition targets, with which it has exchanged Heads of Agreements and, to commence the Company’s planned move of its stock market listing from AQSE to the
4. The Company’s financial situation remains challenging and, to be able to deliver on its immediate business plan it will require a further small capital raise within the next four months, which it will look to carry out in either December or January.
5. The board has commenced the primary work for its LSE listing and it believes it can complete the admission process within this time frame and from the working capital currently available to it. The Company is hopeful that this new stock market listing will allow it to attract the quantum of funds required to commence its planned initial-stage Rare Earths mining exploration programmes in
“We would like to offer our thanks to Phillip for his many years’ of service and wish him and his family the very best for a long and full retirement. We also are pleased that Christian has accepted the appointment as CEO, a position he fully deserves, after providing excellent stewardship to the Company since his appointment as a NED, with little support and minimal financial means.
“The Rare Earths sector is now starting to be recognised as a strategically vital element of the broad portfolio of critical metals required by the green revolution and by advanced technology industries. Importantly,
Admission and Total Voting Rights
Following this issue of 1,488,155 Placing Shares, which will rank pari passu with the Company's existing Ordinary Shares, the Company’s enlarged share capital and total voting rights in the Company will comprise 4,661,440. The Company has no shares held in Treasury. This figure of 4,661,440 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA’s Disclosure and Transparency Rules.
For further information, please visit www.altonaenergy.com or contact:
+44 (0) 7795 168 157
+44 (0) 7880 787 080
+44 (0) 20 3772 0021
Altona is a mining exploration company focused on the evaluation, rapid development and extraction of Rare Earth Element (REE) metals in Africa.
The Company was admitted to trading on AIM on