UK firm raises stake in Solomon miner

BRITISH venture capital company INCOR Holdings has taken its stake in Axiom Mining to 6% after subscribing for about 6.2 million shares under a rights issue shortfall, providing another $1 million to the company.
UK firm raises stake in Solomon miner UK firm raises stake in Solomon miner UK firm raises stake in Solomon miner UK firm raises stake in Solomon miner UK firm raises stake in Solomon miner

Staff Reporter

Axiom is developing the Isabel nickel laterite project on San Jorge Island in the Solomon Islands.
 
INCOR subscribed for the new shares under the same terms, offered in the shortfall, which came from an entitlements offer Axiom launched in March, of one new share at 16c for every 10 held, plus 7 attaching options for every 4 new shares allotted.
 
Only 1.5 million shares of the 34.6 million shares on offer were allotted, with Axiom raising $247,316 through the offer and allowing another 33 million shares to be placed through the shortfall.
 
Funds raised will be used to prepare for the development of the Isabel nickel project and for working capital.

 

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