Sula fundraising

Sula has conditionally raised approximately £1.17 million, gross, through a placing and direct subscriptions of 558,733,765 new ordinary shares at 0.21p per share to new and existing shareholders.

As part of the placing and subscription, certain directors of the Company, being Roger Murphy, Iain Macpherson, Howard Baker and Matt Wood, have collectively subscribed for 77,872,758 new ordinary shares at the placing and subscription price, raising £0.16 million, gross.

The company also announced that it is proposing to make an open offer as soon as practicable to all qualifying shareholders to raise up to a further £0.3 million, gross, by the issue of up to 143,031,940 shares at the placing and subscription price.

At 4:27pm: (LON:SULA) Sula Iron Gold PLC share price was -0.01p at 0.22p