Alexander Mining suspends shares as fundraising falls through
Shares in Alexander Mining were suspended from trading on AIM as the company’s planned £295,000 subscription will no longer be going ahead as planned.
The company said that due to non-receipt of funds, the subscription will not be proceeding meaning it has inadequate working capital until alternative financing can be arranged, hence the trading suspension request.
Alexander Mining said the issue of 1m new ordinary shares to satisfy existing creditors, as announced on 28 August, will proceed but the shares will not be admitted to trading.