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LONDON - Cadence Minerals Plc (AIM:KDNC) has closed its WRAP Retail Offer ahead of schedule due to strong investor interest, the company announced Friday.
The mining investment firm said it will provide further details on Monday, October 6 regarding the total proceeds accepted and the number of ordinary shares to be issued through the offer.
The early closure follows just one day after the company launched the WRAP Retail Offer on October 2, suggesting significant investor appetite for the opportunity.
WRAP is a proprietary technology platform owned and operated by Winterflood Securities Ltd that facilitates retail investor participation in capital raising activities.
The retail offer was only available to existing Cadence Minerals shareholders in the United Kingdom who qualified under specific financial promotion regulations.
Cadence Minerals, which focuses on investing in mining assets and companies, has not disclosed the target amount for the fundraising or how the proceeds will be used.
The company’s shares are listed on London’s AIM market. Cadence has appointed Zeus as its nominated adviser and broker, with Fortified Securities serving as joint broker for the company.
This article is based on a press release statement from Cadence Minerals.
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