(AIM:ORR) has raised £419,500 via a placing and subscription of shares at 0.3p.
The placing price represents a 14% discount to the price of the company’s shares at close of market on June 29, 2020, and a 11% discount to the 30-day volume-weighted average price (VWAP).
The proceeds will primarily be used to support ongoing exploration at the company’s projects in Cameroon, including moving the programme at Bibemi towards drill mobilisation later this year.
It will also provide the company with general working capital, whilst it continues to deliver on its asset realisation programme.
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