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Cornish Metals Raising GBP8.2 Million in Private Placement of Shares

· 02/05/2021 11:40

04:25 PM EST, 02/05/2021 (MT Newswires) -- Cornish Metals (CUSN.V) on Friday said it is raising GBP8.2 million in a private placement of shares to raise funds to advance the United Downs copper-tin project in Cornwall.

The company said it placed 117.23 million shares priced at 7 pence per share in the offering.

"We are pleased to get to work on our projects in Cornwall and look forward to working with all stakeholders as we look to contribute to the UK's desire to achieve a carbon neutral economy and expand the domestic supply of materials important to the battery and technology sectors," chief executive Richard Williams said in a release.

Cornish Metals shares closed up C$0.005 to C$0.225 on the TSX Venture Exchange.

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