28 April
2022
ALTONA RARE EARTHS
PLC
(“Altona” or “the Company”)
PRE-LSE LISTING
FUND RAISE
Altona (AQSE: ANR.PL), a mining exploration company focused on
the evaluation, acquisition and development of Rare Earth Elements
(“REE”) mining projects in Africa,
announces it has raised, through its broker, Optiva Securities Ltd
(“Optiva”), £500,000.00 before expenses of £30,000, via a placing
of 6.25 million ordinary shares at 8
pence each. Optiva will also receive 30,000 broker warrants
at 8p.
The funds will be used to provide necessary working capital to
support the acceleration of the company’s REE development
activities, prior to a targeted LSE listing in May this year. In
particularly, the Company’s Monte Muambe rare earths project in
Mozambique produced drilling
results with higher than expected REE grades, and several other
opportunities in Angola,
Tanzania and Uganda, which look increasingly promising and
are undergoing accelerated evaluation.
Christian Taylor-Wilkinson,
Chief Executive of Altona, commented: Our stratategy is
beginning to produce results and we are starting to build real
value with the Company as we work to identify and prove assets with
REE that we can choose to sell or further develop. Moving to the
LSE will enable us to access capital to accelerate our development
process and the realisation of value for shareholders.”
Certain subscribers to this placing, those shareholders who also
subscribed in the Company’s September
21 placing, may have their warrants re-priced from 20p to
12p, under agreement by the Company. A vote will be taken at a
warrantholder meeting, for shareholders owning a September 2021 warrant, the notice of which will
be issued on Friday 29 April
2022.
Admission and Total Voting Rights
Following this issue of 6.25 million 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 36,484,999. The Company
has no shares held in Treasury. This figure of 36,484,999
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 more information on Altona and its current mining projects
please visit: www.altonaRE.com
-ends-
Altona Rare Earths Plc
Christian Taylor-Wilkinson, Chief
Executive
+44 (0) 7795 168 157
Martin Wood, Non-Executive
Chairman
+44 (0) 7880 787 080
Alfred Henry Corporate Finance Ltd (AQSE Corporate
Adviser )
Jon Isaacs / Nick
Michaels
+44 (0) 20 3772 0021
Optiva Securities (Broker)
Daniel
Ingram
+44 (0) 20 3411 1882
Yellow Jersey PR
Tom Randell/ Annabelle
Wills
+44 (0) 7948 758 681
+44 (0) 20 3004 9512
About Altona Rare Earths Plc
Altona is a mining exploration company focused on the
evaluation, development and extraction of Rare Earth Element (REE)
metals in Africa. It owns a REE mining project in
Mozambique; the Monte Muambe
Project, a significant Light REE mining project in the southwest of
the country, where exploration work commenced on 1 October 2021. Positive assay results from the
initial drilling programme has led the Company to progress with
Resource Drilling in April 2022. The
Company is in the process of investigating other REE opportunities
in Africa.
.