Adriatic Metals Shs Chess Deposit Interests Repr 1 Sh (AU:ADT) has released an update.
Adriatic Metals Plc is set to strengthen its financial stance with a US$50.0 million equity raise at AU$4.15 per CDI, a move aimed at providing fiscal flexibility during the final ramp-up phase of its Vares silver project in Bosnia & Herzegovina. The funds will also settle payments owed to a former mining contractor, with the offering expected to increase the company’s issued capital by 6%. Adriatic’s long-term investor, Orion, will concurrently sell 8 million CDIs but will retain a stake and support the company post-placement.
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