Cradle Arc raises £396 000

Aim-listed Cradle Arc has raised £396 000, before expenses, by way of a conditional placing of 44-million new ordinary shares of 0.01p each in the capital of the company at a price of 0.90p a placing share. The proceeds of the placing will be used alongside the funding from the $2-million loan facility provided to the company’s 60%-owned subsidiary Leboam Holdings, by PenMin Botswana, to complete the rehabilitation and improvement of the current processing facilities at the Mowana copper mine.