Orosur has announced its raising of c.£4.0m (gross) through an oversubscribed placing (the ‘Placing’) of new ordinary shares at a price of 17.0p per Placing Share, together with a grant of one unlisted warrant (‘Warrant’) for every two Placing Shares subscribed.
Warrant holders have the right to exercise on a 1-for-1 basis into new ordinary shares at any time up to 7 December 2022 at a price of 25.5p each. TPI considers this funding will potentially be sufficient to carry Orosur through to the completion of its Anzá Project’s pre-feasibility study. The Placing was undertaken by TPI, which has now been appointed as Orosur’s Joint Corporate Broker.
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