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Diamond Creek Update & Placing to Raise £550,000, 18 Dec 2020 05:45

18 December 2020
Diamond Creek Phosphate Mine Update & Placing and Subscription to Raise £550,000

Keras Resources plc, the AIM listed mineral resource company, is pleased to announce an update on progress at the Diamond Creek high-grade direct shipping ore ( DSO ), organic phosphate mine in Utah, USA ( Diamond Creek ). The Company is also pleased to report it has raised £440,000 (before expenses) through the placing of 400,000,000 new ordinary shares of 0.1p each ( Ordinary Shares ) at a price of 0.11p per Ordinary Share (the Placing Shares ) (the Placing ).

In addition, Brian Moritz and Dave Reeves, directors of the Company, have conditionally agreed to subscribe for 36,363,636 (£40,000) and 63,636,364 (£70,000) new Ordinary Shares respectively (the Director Subscription Shares ), (the Director Subscription ) on the same terms subject to the passing of resolutions at a general meeting to be held by the Company. ....

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