Phoenix Copper (GB:PXC) has released an update.
Phoenix Copper Ltd has secured a $5 million initial tranche from its $80 million bond issue, with the funds earmarked for the construction of the Empire open pit mine in Idaho, aiming to produce copper, gold, and silver. The bond investor, NIU Invest SE, has been granted over 33 million new shares and additional warrants as part of the financing arrangement, reflecting their confidence in Phoenix’s leadership and clean metals vision. The new shares are set to be admitted for trading on the AIM market of the London Stock Exchange, expected to go live around June 12, 2024.
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