First Class Metals Completes £520,000 Fundraise
Why we think this is neutral
The RNS provides details on the completion of a £520,000 fundraise, including a £500,000 placing and a £20,000 subscription by a Non-Executive Director. As this is a standard announcement of the results of a fundraising, the sentiment is assessed as NEUTRAL.
Key Points
- Completion of £520,000 fundraise, including £500,000 placing and £20,000 subscription
- Funds will be used for working capital and further exploration activities
Summary
The metals exploration company has successfully raised £520,000 through a placing and subscription, strengthening its working capital position.
First Class Metals PLC (LSE: FCM) has announced the completion of a £520,000 fundraise, comprising a £500,000 placing and a £20,000 subscription by a Non-Executive Director. The proceeds will be used to strengthen the company's working capital position and enable further exploration work across its portfolio in Ontario, Canada.
PLACING