URA Holdings to Raise £240,000 for Mining Development and Working Capital

Anthony O. Goriainoff

URA Holdings, a London-listed company focused on uranium exploration and development in Tanzania, has revealed its intention to raise £240,000 ($304,152) through a discounted placing and a subscription. The funds will be utilized for the advancement of mining operations and to support general working capital.

Under the plan, URA Holdings will issue 10,000 new ordinary shares at a price of 2.4 pence per share. This represents a 7.7% discount to the closing price on Thursday. In addition, as part of the fundraise, the company will grant 125,000 warrants to Peterhouse Capital at the issue price. These warrants will be valid for a period of three years.

Chairman Ed Nealon expressed his gratitude to the board members for their significant contribution of over 10% to the placement. He also recognized the dedication and hard work of the management team as they approach the trial mining and production phase.

At 0954 GMT, the company’s shares remained unchanged at 2.60 pence.