The company completed a placing of 21 million new Ordinary shares at 10p and further Subscription Agreements for an aggregate 1.5 million new Ordinary Shares (Subscription Shares) at 10p to raise a cumulative £2.25 million (before expenses). At listing, the total number of shares will be 22.5 million.
Novum Capital Limited acted as sole Placing agents and broker.
Martyn Churchouse, Chief Executive Officer, said:
“We are delighted to begin trading on the Main Market of the London Stock Exchange today. Caerus has developed a well-balanced portfolio of copper-gold licences, and today’s listing and fundraising provide us with the capital and opportunity to fast-track the generation of Mineral Resources, strengthen shareholder value and create near-term cash flow.
“We have an established presence in Cyprus, allowing us to start exploration without any of the usual ‘start-up’ delays. We firmly believe that our focus on copper is timely, and the company will benefit from the growing Clean Energy Transition and long-term forecasts for the demand and price of copper as a commodity.”
